Commercial Metals (CMC) Expected to Post Quarterly Sales of $1.20 Billion

Equities research analysts forecast that Commercial Metals (NYSE:CMC) will report sales of $1.20 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Commercial Metals’ earnings, with the highest sales estimate coming in at $1.22 billion and the lowest estimate coming in at $1.18 billion. Commercial Metals reported sales of $1.15 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The business is scheduled to report its next quarterly earnings results on Thursday, March 22nd.

According to Zacks, analysts expect that Commercial Metals will report full year sales of $1.20 billion for the current financial year, with estimates ranging from $4.32 billion to $5.22 billion. For the next year, analysts forecast that the firm will report sales of $5.10 billion per share, with estimates ranging from $4.89 billion to $5.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Commercial Metals.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Commercial Metals had a return on equity of 6.50% and a net margin of 0.95%. Commercial Metals’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share.

A number of analysts recently commented on the company. Zacks Investment Research cut Commercial Metals from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Jefferies Group upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Bank of America raised Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price target for the company from $21.00 to $24.00 in a report on Thursday, December 7th. Macquarie began coverage on Commercial Metals in a report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price target for the company. Finally, Citigroup cut their price target on Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, September 15th. Four equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.88.

Commercial Metals (NYSE CMC) traded up $1.53 during trading on Thursday, reaching $24.30. The company had a trading volume of 6,128,800 shares, compared to its average volume of 5,288,600. The stock has a market capitalization of $2,655.68, a PE ratio of 60.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.81 and a current ratio of 2.82. Commercial Metals has a 12 month low of $17.05 and a 12 month high of $25.18.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, January 12th. Commercial Metals’s dividend payout ratio is presently 120.00%.

A number of large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in shares of Commercial Metals in the third quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 worth $114,000 after acquiring an additional 522 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Commercial Metals by 56.6% in the second quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 2,492 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Commercial Metals in the third quarter worth about $282,000. Finally, GSA Capital Partners LLP bought a new position in shares of Commercial Metals in the third quarter worth about $295,000. 88.55% of the stock is owned by institutional investors and hedge funds.

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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.

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

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