Commercial Metals Company to Post Q1 2018 Earnings of $0.13 Per Share, Jefferies Group Forecasts (CMC)
Commercial Metals Company (NYSE:CMC) – Jefferies Group issued their Q1 2018 earnings estimates for shares of Commercial Metals in a report released on Monday. Jefferies Group analyst S. Rosenfeld expects that the basic materials company will post earnings of $0.13 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $24.00 price target on the stock. Jefferies Group also issued estimates for Commercial Metals’ Q2 2018 earnings at $0.26 EPS and Q3 2018 earnings at $0.55 EPS.
Other analysts have also issued research reports about the company. Clarkson Capital reiterated a “sell” rating and issued a $16.00 target price on shares of Commercial Metals in a research note on Tuesday, August 15th. BidaskClub lowered Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research note on Tuesday, October 17th. Citigroup Inc. reduced their target price on Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Finally, Bank of America Corporation reiterated a “neutral” rating and issued a $21.00 target price (up previously from $20.00) on shares of Commercial Metals in a research note on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and a consensus price target of $21.56.
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Shares of Commercial Metals (NYSE:CMC) traded down 0.67% on Tuesday, reaching $19.36. 529,102 shares of the company’s stock were exchanged. The company’s 50 day moving average is $19.42 and its 200-day moving average is $18.89. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 29.92 and a beta of 1.22. Commercial Metals has a one year low of $15.42 and a one year high of $24.64.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.13). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Commercial Metals had a net margin of 0.95% and a return on equity of 6.50%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.46%. Commercial Metals’s dividend payout ratio is currently 120.00%.
Several institutional investors have recently made changes to their positions in the company. Palisade Capital Management LLC NJ increased its stake in shares of Commercial Metals by 1.9% during the third quarter. Palisade Capital Management LLC NJ now owns 598,075 shares of the basic materials company’s stock valued at $11,381,000 after buying an additional 11,046 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Commercial Metals during the third quarter valued at $101,000. Crossmark Global Holdings Inc. purchased a new position in shares of Commercial Metals during the third quarter valued at $282,000. First Trust Advisors LP increased its stake in shares of Commercial Metals by 31.3% during the third quarter. First Trust Advisors LP now owns 78,350 shares of the basic materials company’s stock valued at $1,491,000 after buying an additional 18,696 shares during the period. Finally, Trellus Management Company LLC purchased a new position in shares of Commercial Metals during the third quarter valued at $590,000. Hedge funds and other institutional investors own 90.38% of the company’s stock.
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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