Commercial Metals (NYSE:CMC) released its earnings results on Sunday. The basic materials company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05, MarketWatch Earnings reports. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.37 billion. Commercial Metals had a net margin of 5.10% and a return on equity of 17.74%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 EPS.
NYSE CMC traded up $1.02 during trading hours on Tuesday, reaching $22.68. 96,736 shares of the company’s stock traded hands, compared to its average volume of 1,184,147. Commercial Metals has a 52-week low of $10.76 and a 52-week high of $24.16. The firm has a market cap of $2.72 billion, a PE ratio of 9.84, a PEG ratio of 3.52 and a beta of 1.24. The firm has a 50-day simple moving average of $20.60 and a 200 day simple moving average of $20.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.97 and a quick ratio of 2.13.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 4th. Stockholders of record on Thursday, January 21st will be given a $0.12 dividend. The ex-dividend date is Wednesday, January 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.12%. Commercial Metals’s dividend payout ratio is 18.18%.
In related news, COO Tracy L. Porter sold 51,918 shares of Commercial Metals stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $20.81, for a total transaction of $1,080,413.58. Following the completion of the transaction, the chief operating officer now directly owns 10 shares of the company’s stock, valued at approximately $208.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Barbara Smith sold 82,082 shares of Commercial Metals stock in a transaction dated Wednesday, January 6th. The shares were sold at an average price of $22.87, for a total transaction of $1,877,215.34. Following the transaction, the chief executive officer now directly owns 769,105 shares of the company’s stock, valued at $17,589,431.35. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
A number of brokerages have issued reports on CMC. Bank of America lowered shares of Commercial Metals from a “neutral” rating to an “underperform” rating and set a $21.00 price target on the stock. in a report on Tuesday. ValuEngine raised shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 6th. BidaskClub raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a report on Wednesday, January 6th. Citigroup raised their price target on shares of Commercial Metals from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.44.
Commercial Metals Company Profile
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, Germany, and internationally. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.
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