Commercial Metals (NYSE:CMC) – Analysts at KeyCorp issued their Q2 2018 earnings per share estimates for Commercial Metals in a note issued to investors on Wednesday. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings of $0.34 per share for the quarter. KeyCorp also issued estimates for Commercial Metals’ Q3 2018 earnings at $0.42 EPS and FY2019 earnings at $1.55 EPS.

Other equities research analysts have also issued research reports about the stock. Jefferies Group upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Citigroup lowered their target price on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, September 15th. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $21.00 to $24.00 in a report on Thursday, December 7th. Finally, Zacks Investment Research lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Four analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.88.

Commercial Metals (NYSE:CMC) traded up $0.18 during trading on Friday, hitting $24.48. 4,679,400 shares of the stock traded hands, compared to its average volume of 5,085,900. The company has a market cap of $2,834.12, a price-to-earnings ratio of 37.09 and a beta of 1.26. The company has a quick ratio of 1.81, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $25.18.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.14. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. Commercial Metals’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be issued a $0.12 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.96%. Commercial Metals’s dividend payout ratio (DPR) is presently 72.73%.

Hedge funds have recently bought and sold shares of the stock. 3G Capital Partners LP purchased a new position in Commercial Metals in the 3rd quarter worth about $9,515,000. Koch Industries Inc. purchased a new position in Commercial Metals in the 2nd quarter worth about $270,000. Russell Investments Group Ltd. increased its stake in Commercial Metals by 4,203.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock worth $11,218,000 after buying an additional 575,835 shares during the period. Janus Henderson Group PLC purchased a new position in Commercial Metals in the 2nd quarter worth about $29,018,000. Finally, Hodges Capital Management Inc. increased its stake in Commercial Metals by 1.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,057,486 shares of the basic materials company’s stock worth $20,124,000 after buying an additional 16,490 shares during the period. 88.55% of the stock is currently owned by institutional investors.

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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.

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

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