Commercial Metals (NYSE:CMC) – Equities research analysts at KeyCorp cut their FY2018 EPS estimates for shares of Commercial Metals in a research report issued to clients and investors on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $1.25 per share for the year, down from their previous estimate of $1.35.
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, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis.
Commercial Metals (NYSE:CMC) traded up $0.55 on Wednesday, reaching $24.39. 373,031 shares of the company’s stock traded hands, compared to its average volume of 2,032,134. The company has a market capitalization of $2,687.19, a P/E ratio of 36.12 and a beta of 1.27. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $25.90. The company has a quick ratio of 2.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.56.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were issued a $0.12 dividend. The ex-dividend date was Friday, January 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.97%. Commercial Metals’s dividend payout ratio is currently 72.73%.
In other Commercial Metals news, EVP Tracy L. Porter sold 6,935 shares of Commercial Metals stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total value of $174,345.90. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at approximately $251.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy L. Porter sold 13,601 shares of Commercial Metals stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total transaction of $340,569.04. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at $250.40. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Large investors have recently modified their holdings of the business. Strs Ohio grew its stake in shares of Commercial Metals by 176.5% in the 4th quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock worth $100,000 after buying an additional 3,000 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Commercial Metals during the 3rd quarter worth about $101,000. Cerebellum GP LLC purchased a new position in shares of Commercial Metals during the 4th quarter worth about $129,000. Global X Management Co. LLC boosted its stake in shares of Commercial Metals by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock worth $171,000 after purchasing an additional 3,450 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Commercial Metals by 38.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 2,239 shares during the period. 88.77% 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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