Commercial Metals (NYSE:CMC) Expected to Post Earnings of $0.73 Per Share

Equities research analysts forecast that Commercial Metals (NYSE:CMC) will announce earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Commercial Metals’ earnings. The lowest EPS estimate is $0.62 and the highest is $0.80. Commercial Metals posted earnings of $0.51 per share in the same quarter last year, which would suggest a positive year over year growth rate of 43.1%. The firm is expected to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Commercial Metals will report full-year earnings of $2.05 per share for the current year, with EPS estimates ranging from $1.93 to $2.11. For the next financial year, analysts forecast that the firm will report earnings of $2.05 per share, with EPS estimates ranging from $1.75 to $2.66. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Commercial Metals.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, June 20th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. Commercial Metals had a net margin of 2.92% and a return on equity of 14.34%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $0.41 earnings per share. Commercial Metals’s quarterly revenue was up 33.3% on a year-over-year basis.

Several equities analysts recently issued reports on CMC shares. TheStreet upgraded shares of Commercial Metals from a “c+” rating to a “b” rating in a research report on Tuesday, July 16th. Deutsche Bank cut shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Thursday, July 11th. They noted that the move was a valuation call. Bank of America reiterated an “underperform” rating and set a $18.00 price target on shares of Commercial Metals in a research report on Friday, May 31st. Cowen reiterated a “market perform” rating and set a $18.50 price target (up previously from $17.00) on shares of Commercial Metals in a research report on Tuesday, April 9th. Finally, Citigroup set a $16.00 price target on shares of Commercial Metals and gave the company a “hold” rating in a research report on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.10.

A number of large investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. bought a new position in shares of Commercial Metals in the first quarter worth approximately $51,000. Centaurus Financial Inc. bought a new position in shares of Commercial Metals in the first quarter worth approximately $60,000. Macquarie Group Ltd. bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $100,000. Rehmann Capital Advisory Group raised its holdings in shares of Commercial Metals by 2,690.0% during the first quarter. Rehmann Capital Advisory Group now owns 8,370 shares of the basic materials company’s stock valued at $143,000 after purchasing an additional 8,070 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Commercial Metals by 38.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 9,217 shares of the basic materials company’s stock valued at $157,000 after purchasing an additional 2,561 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE CMC traded down $0.70 during midday trading on Wednesday, hitting $17.51. 1,283,801 shares of the company traded hands, compared to its average volume of 1,502,650. Commercial Metals has a 12-month low of $13.27 and a 12-month high of $22.58. The company has a current ratio of 3.00, a quick ratio of 1.86 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average of $17.29. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 2.32 and a beta of 1.68.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, July 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.74%. The ex-dividend date was Wednesday, July 3rd. Commercial Metals’s payout ratio is currently 32.21%.

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

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