Brokers Issue Forecasts for Commercial Metals’ FY2018 Earnings (CMC)

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.

Several other analysts also recently commented on CMC. Jefferies Group upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research report on Tuesday, October 17th. Finally, Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $21.00 to $24.00 in a research report on Thursday, December 7th. Four analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $21.88.

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.

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

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