Brokerages Anticipate Commercial Metals Company (CMC) to Announce $0.27 EPS
Brokerages expect Commercial Metals Company (NYSE:CMC) to post $0.27 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Commercial Metals’ earnings. The lowest EPS estimate is $0.18 and the highest is $0.35. Commercial Metals posted earnings of $0.22 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.7%. The company is expected to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that Commercial Metals will report full-year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.98. For the next year, analysts forecast that the company will report earnings of $1.52 per share, with EPS estimates ranging from $1.24 to $1.77. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Commercial Metals.
Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.11. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year.
A number of equities analysts have commented on CMC shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 price target on shares of Commercial Metals in a research note on Wednesday, June 28th. Clarkson Capital reaffirmed a “sell” rating and issued a $16.00 price target on shares of Commercial Metals in a research note on Tuesday. Zacks Investment Research cut Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $20.00 price target (up from $19.00) on shares of Commercial Metals in a research note on Sunday, June 25th. Finally, BidaskClub cut Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $21.75.
Several institutional investors have recently bought and sold shares of the stock. Capstone Asset Management Co. boosted its position in Commercial Metals by 0.5% in the second quarter. Capstone Asset Management Co. now owns 14,112 shares of the basic materials company’s stock valued at $274,000 after buying an additional 70 shares during the period. Amalgamated Bank boosted its position in Commercial Metals by 1.6% in the second quarter. Amalgamated Bank now owns 16,403 shares of the basic materials company’s stock valued at $319,000 after buying an additional 253 shares during the period. First Midwest Bank Trust Division boosted its position in Commercial Metals by 2.0% in the second quarter. First Midwest Bank Trust Division now owns 20,152 shares of the basic materials company’s stock valued at $392,000 after buying an additional 401 shares during the period. Advantus Capital Management Inc boosted its position in Commercial Metals by 3.0% in the first quarter. Advantus Capital Management Inc now owns 14,796 shares of the basic materials company’s stock valued at $283,000 after buying an additional 436 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Commercial Metals by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the basic materials company’s stock valued at $114,000 after buying an additional 522 shares during the period. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Commercial Metals (CMC) opened at 17.92 on Wednesday. Commercial Metals has a one year low of $14.57 and a one year high of $24.64. The company has a 50-day moving average price of $19.28 and a 200 day moving average price of $19.26. The company has a market capitalization of $2.07 billion, a PE ratio of 27.70 and a beta of 1.22.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.68%. Commercial Metals’s dividend payout ratio (DPR) is presently 73.85%.
COPYRIGHT VIOLATION NOTICE: “Brokerages Anticipate Commercial Metals Company (CMC) to Announce $0.27 EPS” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/08/16/brokerages-anticipate-commercial-metals-company-cmc-to-announce-0-27-eps.html.
Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Commercial Metals Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals Company and related companies with MarketBeat.com's FREE daily email newsletter.