Analysts expect Commercial Metals (NYSE:CMC) to report $0.51 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Commercial Metals’ earnings. The highest EPS estimate is $0.59 and the lowest is $0.46. Commercial Metals reported earnings per share of $0.07 in the same quarter last year, which would suggest a positive year-over-year growth rate of 628.6%. The business is scheduled to report its next earnings report on Thursday, October 25th.
On average, analysts expect that Commercial Metals will report full year earnings of $1.49 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.57. For the next fiscal year, analysts expect that the company will report earnings of $2.20 per share, with EPS estimates ranging from $1.55 to $2.86. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Commercial Metals.
Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 21st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Commercial Metals had a return on equity of 8.65% and a net margin of 1.21%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue was up 15.3% on a year-over-year basis.
Several research firms have issued reports on CMC. Goldman Sachs Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Monday, August 13th. Bank of America lowered Commercial Metals from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 27th. Zacks Investment Research upgraded Commercial Metals from a “sell” rating to a “hold” rating in a research note on Monday, June 25th. Citigroup upped their price objective on Commercial Metals from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Tuesday, June 12th. Finally, Macquarie restated a “neutral” rating on shares of Commercial Metals in a research note on Thursday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.00.
CMC opened at $21.15 on Friday. Commercial Metals has a 52-week low of $17.46 and a 52-week high of $26.72. The stock has a market cap of $2.42 billion, a P/E ratio of 34.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.73 and a current ratio of 3.90.
Institutional investors have recently bought and sold shares of the company. Mesirow Financial Investment Management Equity Management grew its position in shares of Commercial Metals by 2.0% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 458,448 shares of the basic materials company’s stock valued at $9,677,000 after purchasing an additional 9,015 shares during the last quarter. Cim Investment Mangement Inc. acquired a new position in shares of Commercial Metals in the second quarter valued at approximately $359,000. Voya Investment Management LLC grew its position in shares of Commercial Metals by 2.9% in the second quarter. Voya Investment Management LLC now owns 2,133,160 shares of the basic materials company’s stock valued at $45,031,000 after purchasing an additional 60,443 shares during the last quarter. Swiss National Bank grew its position in shares of Commercial Metals by 2.3% in the first quarter. Swiss National Bank now owns 201,800 shares of the basic materials company’s stock valued at $4,129,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Commercial Metals in the first quarter valued at approximately $421,000. 89.22% of the stock is currently owned by institutional investors.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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