Research Analysts Set Expectations for Commercial Metals’ Q2 2021 Earnings (NYSE:CMC)


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Commercial Metals (NYSE:CMC) – Research analysts at KeyCorp issued their Q2 2021 earnings per share estimates for Commercial Metals in a research note issued on Monday, January 11th. KeyCorp analyst P. Gibbs anticipates that the basic materials company will earn $0.53 per share for the quarter. KeyCorp also issued estimates for Commercial Metals’ Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.18 EPS, FY2021 earnings at $1.70 EPS and FY2022 earnings at $1.65 EPS.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Sunday, January 10th. The basic materials company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Commercial Metals had a net margin of 5.10% and a return on equity of 17.74%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the firm posted $0.73 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year.

A number of other research analysts have also recently issued reports on CMC. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Thursday, December 3rd. Bank of America cut Commercial Metals from a “neutral” rating to an “underperform” rating and set a $21.00 target price on the stock. in a research report on Tuesday. BidaskClub upgraded Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 6th. Deutsche Bank Aktiengesellschaft cut Commercial Metals from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Friday, January 8th. Finally, Zacks Investment Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a report on Monday, September 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Commercial Metals has a consensus rating of “Hold” and an average price target of $22.44.

Commercial Metals stock opened at $22.05 on Thursday. Commercial Metals has a 12-month low of $10.76 and a 12-month high of $24.16. The company has a quick ratio of 2.13, a current ratio of 2.97 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $20.66 and its two-hundred day moving average price is $20.81. The stock has a market cap of $2.65 billion, a PE ratio of 9.46, a P/E/G ratio of 3.52 and a beta of 1.24.

Several large investors have recently modified their holdings of CMC. FMR LLC boosted its stake in shares of Commercial Metals by 109.2% during the 2nd quarter. FMR LLC now owns 9,490,695 shares of the basic materials company’s stock valued at $193,611,000 after purchasing an additional 4,954,289 shares in the last quarter. Retirement Systems of Alabama raised its stake in Commercial Metals by 225.9% during the 3rd quarter. Retirement Systems of Alabama now owns 506,350 shares of the basic materials company’s stock valued at $10,117,000 after buying an additional 350,990 shares during the last quarter. First Dallas Securities Inc. purchased a new stake in Commercial Metals during the 3rd quarter valued at $4,924,000. Acadian Asset Management LLC raised its stake in Commercial Metals by 128.0% during the 3rd quarter. Acadian Asset Management LLC now owns 313,788 shares of the basic materials company’s stock valued at $6,270,000 after buying an additional 176,150 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Commercial Metals by 3.5% in the 3rd quarter. State Street Corp now owns 4,924,344 shares of the basic materials company’s stock worth $98,388,000 after purchasing an additional 166,920 shares in the last quarter. 84.15% of the stock is currently owned by institutional investors.

In other news, CEO Barbara Smith sold 82,082 shares of the company’s stock in a transaction that occurred on Wednesday, January 6th. The stock was sold at an average price of $22.87, for a total transaction of $1,877,215.34. Following the transaction, the chief executive officer now directly owns 769,105 shares of the company’s stock, valued at $17,589,431.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Tracy L. Porter sold 51,918 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.81, for a total value of $1,080,413.58. Following the transaction, the chief operating officer now directly owns 10 shares in the company, valued at $208.10. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 4th. Shareholders of record on Thursday, January 21st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, January 20th. Commercial Metals’s dividend payout ratio (DPR) is presently 18.18%.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, Germany, and internationally. The company processes and sells ferrous and nonferrous 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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