Wall Street analysts expect Commercial Metals Company (NYSE:CMC) to post $1.23 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Commercial Metals’ earnings. The highest sales estimate is $1.38 billion and the lowest is $1.11 billion. Commercial Metals reported sales of $1.21 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.7%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 26th.

On average, analysts expect that Commercial Metals will report full year sales of $1.23 billion for the current financial year, with estimates ranging from $4.72 billion to $4.99 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.80 billion per share, with estimates ranging from $4.32 billion to $5.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Commercial Metals.

Several equities analysts recently commented on the stock. BidaskClub downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Bank of America Corporation restated 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. Citigroup Inc. decreased their price target on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Clarkson Capital reiterated a “sell” rating and set a $16.00 price objective on shares of Commercial Metals in a research note on Tuesday, August 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price objective on shares of Commercial Metals in a research note on Wednesday, June 28th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $20.63.

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A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Commercial Metals by 17,672.9% during the first quarter. BlackRock Inc. now owns 14,566,855 shares of the basic materials company’s stock worth $278,663,000 after buying an additional 14,484,894 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Commercial Metals by 2.1% in the second quarter. Vanguard Group Inc. now owns 12,837,096 shares of the basic materials company’s stock worth $249,424,000 after acquiring an additional 264,915 shares during the last quarter. State Street Corp lifted its holdings in shares of Commercial Metals by 8.9% in the first quarter. State Street Corp now owns 6,115,380 shares of the basic materials company’s stock worth $116,984,000 after acquiring an additional 497,543 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Commercial Metals by 13.2% in the second quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock worth $87,673,000 after acquiring an additional 526,185 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Commercial Metals by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 2,972,782 shares of the basic materials company’s stock worth $57,762,000 after acquiring an additional 115,908 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Commercial Metals (NYSE:CMC) opened at 20.41 on Friday. Commercial Metals has a 12-month low of $15.16 and a 12-month high of $24.64. The company has a market capitalization of $2.36 billion, a P/E ratio of 31.55 and a beta of 1.22. The stock’s 50 day moving average is $18.61 and its 200-day moving average is $18.69.

About Commercial Metals

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.

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Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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