Commercial Metals to Post Q2 2018 Earnings of $0.25 Per Share, KeyCorp Forecasts (CMC)

Commercial Metals (NYSE:CMC) – Equities researchers at KeyCorp lowered their Q2 2018 earnings per share (EPS) estimates for Commercial Metals in a research report issued on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.34.

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

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “sell” rating in a report on Thursday, December 28th. Bank of America upgraded Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $24.00 in a report on Thursday, December 7th. Finally, Jefferies Group decreased their price objective on Commercial Metals from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 30th. Four equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.88.

Shares of Commercial Metals (NYSE CMC) opened at $23.04 on Tuesday. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. The firm has a market capitalization of $2,614.88, a PE ratio of 34.91 and a beta of 1.27.

A number of large investors have recently made changes to their positions in CMC. Janus Henderson Group PLC purchased a new position in Commercial Metals during the 2nd quarter valued at about $29,018,000. Deprince Race & Zollo Inc. increased its holdings in Commercial Metals by 58.8% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock valued at $57,435,000 after purchasing an additional 1,117,876 shares during the period. Systematic Financial Management LP purchased a new position in Commercial Metals during the 4th quarter valued at about $12,477,000. Russell Investments Group Ltd. increased its holdings in Commercial Metals by 4,203.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock valued at $11,218,000 after purchasing an additional 575,835 shares during the period. Finally, 3G Capital Partners LP purchased a new position in Commercial Metals during the 3rd quarter valued at about $9,515,000. Institutional investors own 88.77% of the company’s stock.

In other news, EVP Tracy L. Porter sold 6,935 shares of Commercial Metals stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total value of $174,345.90. Following the transaction, the executive vice president now owns 10 shares in the company, valued at $251.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tracy L. Porter sold 13,601 shares of Commercial Metals stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the transaction, the executive vice president now owns 10 shares in the company, valued at approximately $250.40. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.08%. Commercial Metals’s dividend payout ratio is currently 72.73%.

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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.

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

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