Commercial Metals (NYSE:CMC) Issues Earnings Results, Beats Estimates By $0.19 EPS

Commercial Metals (NYSE:CMC) released its quarterly earnings data on Monday. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.19, reports. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Commercial Metals had a net margin of 4.41% and a return on equity of 18.40%. The firm’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.

CMC opened at $23.17 on Thursday. Commercial Metals has a fifty-two week low of $13.27 and a fifty-two week high of $24.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.35 and a quick ratio of 2.00. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 2.49 and a beta of 1.82. The company’s 50 day moving average price is $21.89 and its two-hundred day moving average price is $18.77.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, January 14th. Commercial Metals’s payout ratio is 23.08%.

A number of research firms have weighed in on CMC. Bank of America boosted their target price on shares of Commercial Metals from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. set a $22.00 target price on shares of Commercial Metals and gave the stock a “buy” rating in a report on Monday, September 23rd. Deutsche Bank raised shares of Commercial Metals from a “hold” rating to a “buy” rating and boosted their target price for the stock from $18.50 to $25.00 in a report on Tuesday, November 26th. Exane BNP Paribas began coverage on shares of Commercial Metals in a report on Thursday, November 14th. They set an “outperform” rating on the stock. Finally, Goldman Sachs Group lowered shares of Commercial Metals from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a report on Sunday, September 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Commercial Metals presently has an average rating of “Hold” and a consensus target price of $19.61.

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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Earnings History for Commercial Metals (NYSE:CMC)

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