Commercial Metals (NYSE:CMC) issued its quarterly earnings results on Sunday. The basic materials company reported $0.58 earnings per share 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 during the quarter, compared to the consensus estimate of $1.37 billion. Commercial Metals had a return on equity of 17.74% and a net margin of 5.10%. Commercial Metals’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS.
Shares of Commercial Metals stock traded up $1.02 during trading on Tuesday, reaching $22.68. The company had a trading volume of 96,736 shares, compared to its average volume of 1,184,147. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 3.52 and a beta of 1.24. The firm’s fifty day moving average is $20.60 and its 200-day moving average is $20.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.13 and a current ratio of 2.97. Commercial Metals has a fifty-two week low of $10.76 and a fifty-two week high of $24.16.
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 paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.12%. Commercial Metals’s dividend payout ratio (DPR) is presently 18.18%.
CMC has been the subject of several analyst reports. Smith Barney Citigroup boosted their price target on Commercial Metals from $21.00 to $22.00 in a report on Tuesday. ValuEngine raised shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 6th. Bank of America cut shares of Commercial Metals from a “neutral” rating to an “underperform” rating and set a $21.00 price objective for the company. in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Friday. Finally, Citigroup upped their price target on shares of Commercial Metals from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, October 16th. Two 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 assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $22.44.
In other news, CEO Barbara Smith sold 82,082 shares of the company’s stock in a transaction dated Wednesday, January 6th. The shares were sold at an average price of $22.87, for a total value of $1,877,215.34. Following the sale, the chief executive officer now owns 769,105 shares in the company, valued at approximately $17,589,431.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Tracy L. Porter sold 51,918 shares of the company’s 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 sale, the chief operating officer now owns 10 shares in the company, valued at approximately $208.10. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
About Commercial Metals
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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