Analysts Expect Commercial Metals (NYSE:CMC) Will Post Earnings of $0.48 Per Share

Analysts forecast that Commercial Metals (NYSE:CMC) will announce earnings per share (EPS) of $0.48 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Commercial Metals’ earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.40. Commercial Metals posted earnings of $0.29 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 65.5%. The business is expected to report its next quarterly earnings results on Thursday, March 19th.

On average, analysts expect that Commercial Metals will report full-year earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.10 to $2.70. For the next financial year, analysts expect that the business will report earnings of $2.05 per share, with EPS estimates ranging from $1.80 to $2.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Commercial Metals.

Commercial Metals (NYSE:CMC) last announced its earnings results on Monday, January 6th. The basic materials company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.44 billion. Commercial Metals had a return on equity of 18.40% and a net margin of 4.41%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS.

Several brokerages have recently commented on CMC. Deutsche Bank upgraded Commercial Metals from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.50 to $25.00 in a research report on Tuesday, November 26th. Exane BNP Paribas assumed coverage on Commercial Metals in a report on Thursday, November 14th. They set an “outperform” rating for the company. BMO Capital Markets assumed coverage on Commercial Metals in a report on Tuesday, November 26th. They set a “market perform” rating and a $23.00 target price for the company. Bank of America increased their target price on Commercial Metals from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, October 24th. Finally, ValuEngine cut Commercial Metals from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $19.61.

Shares of Commercial Metals stock opened at $21.13 on Friday. The company has a current ratio of 3.35, a quick ratio of 2.27 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $2.57 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 2.25 and a beta of 1.77. The business’s 50-day moving average price is $21.80 and its 200-day moving average price is $19.46. Commercial Metals has a 12 month low of $13.27 and a 12 month high of $24.04.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Wednesday, January 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, January 14th. Commercial Metals’s dividend payout ratio is presently 23.08%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMC. State of Michigan Retirement System lifted its stake in shares of Commercial Metals by 2.0% in the 4th quarter. State of Michigan Retirement System now owns 34,900 shares of the basic materials company’s stock valued at $777,000 after purchasing an additional 700 shares during the period. World Asset Management Inc lifted its stake in shares of Commercial Metals by 7.2% in the 3rd quarter. World Asset Management Inc now owns 10,853 shares of the basic materials company’s stock valued at $189,000 after purchasing an additional 730 shares during the period. Texas Permanent School Fund lifted its stake in shares of Commercial Metals by 1.1% in the 4th quarter. Texas Permanent School Fund now owns 81,157 shares of the basic materials company’s stock valued at $1,807,000 after purchasing an additional 893 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Commercial Metals by 1.3% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 81,828 shares of the basic materials company’s stock valued at $1,822,000 after purchasing an additional 1,053 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in shares of Commercial Metals by 0.8% in the 4th quarter. Retirement Systems of Alabama now owns 154,503 shares of the basic materials company’s stock valued at $3,441,000 after purchasing an additional 1,212 shares during the period. Institutional investors and hedge funds own 89.63% of the company’s stock.

Commercial Metals Company Profile

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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