Wall Street brokerages expect Commercial Metals (NYSE:CMC) to announce sales of $1.25 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Commercial Metals’ earnings, with the highest sales estimate coming in at $1.30 billion and the lowest estimate coming in at $1.19 billion. Commercial Metals reported sales of $1.24 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The firm is expected to report its next earnings report on Wednesday, January 2nd.
According to Zacks, analysts expect that Commercial Metals will report full-year sales of $5.43 billion for the current fiscal year, with estimates ranging from $5.00 billion to $5.94 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.73 billion, with estimates ranging from $5.00 billion to $6.38 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Commercial Metals.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Commercial Metals had a return on equity of 12.11% and a net margin of 2.88%.
A number of equities analysts recently issued reports on CMC shares. Longbow Research set a $25.00 target price on Commercial Metals and gave the stock a “buy” rating in a research note on Monday, December 3rd. ValuEngine lowered Commercial Metals from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Citigroup raised their target price on Commercial Metals from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, November 6th. Goldman Sachs Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Monday, August 13th. Finally, Macquarie set a $23.00 target price on Commercial Metals and gave the stock a “hold” rating in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.88.
Commercial Metals stock opened at $18.17 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2.24 billion, a PE ratio of 12.19 and a beta of 1.25. Commercial Metals has a 1-year low of $17.26 and a 1-year high of $26.72.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were paid a $0.12 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $0.48 dividend on an annualized basis and a yield of 2.64%. Commercial Metals’s dividend payout ratio (DPR) is 32.21%.
A number of hedge funds have recently modified their holdings of CMC. FMR LLC raised its stake in Commercial Metals by 104.5% in the 2nd quarter. FMR LLC now owns 3,269,044 shares of the basic materials company’s stock worth $69,010,000 after acquiring an additional 1,670,640 shares during the last quarter. Man Group plc raised its stake in shares of Commercial Metals by 1,141.2% during the 3rd quarter. Man Group plc now owns 934,258 shares of the basic materials company’s stock valued at $19,171,000 after buying an additional 858,985 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Commercial Metals by 680.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 468,171 shares of the basic materials company’s stock valued at $1,030,000 after buying an additional 408,175 shares during the last quarter. BlackRock Inc. raised its stake in shares of Commercial Metals by 3.2% during the 2nd quarter. BlackRock Inc. now owns 12,908,547 shares of the basic materials company’s stock valued at $272,500,000 after buying an additional 394,482 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Commercial Metals by 9.0% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 4,244,481 shares of the basic materials company’s stock valued at $89,601,000 after buying an additional 350,990 shares during the last quarter. Institutional investors own 87.03% of the company’s stock.
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 four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.
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