$1.26 Billion in Sales Expected for Commercial Metals (NYSE:CMC) This Quarter

Analysts expect Commercial Metals (NYSE:CMC) to announce sales of $1.26 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Commercial Metals’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.23 billion. Commercial Metals reported sales of $1.61 billion during the same quarter last year, which indicates a negative year over year growth rate of 21.7%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, June 18th.

On average, analysts expect that Commercial Metals will report full year sales of $5.41 billion for the current financial year, with estimates ranging from $5.26 billion to $5.57 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.87 billion, with estimates ranging from $5.60 billion to $6.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Commercial Metals.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 19th. The basic materials company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. Commercial Metals had a net margin of 5.30% and a return on equity of 19.41%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS.

A number of equities analysts have recently commented on CMC shares. Credit Suisse Group reduced their price objective on shares of Commercial Metals from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. ValuEngine downgraded shares of Commercial Metals from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Citigroup raised shares of Commercial Metals to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, March 23rd. Zacks Investment Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $15.00 price target for the company in a report on Tuesday, March 10th. Finally, TheStreet downgraded shares of Commercial Metals from a “b-” rating to a “c” rating in a report on Monday, March 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $20.88.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in Commercial Metals in the 4th quarter valued at about $36,000. USA Financial Portformulas Corp acquired a new stake in Commercial Metals in the 1st quarter valued at about $43,000. Ellevest Inc. increased its position in Commercial Metals by 79.9% in the 1st quarter. Ellevest Inc. now owns 2,779 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 1,234 shares in the last quarter. Anderson Fisher LLC acquired a new stake in Commercial Metals in the 4th quarter valued at about $68,000. Finally, Pearl River Capital LLC acquired a new stake in shares of Commercial Metals during the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 87.23% of the company’s stock.

Shares of NYSE:CMC traded down $0.05 during midday trading on Tuesday, reaching $16.20. 1,081,490 shares of the company’s stock were exchanged, compared to its average volume of 1,305,013. The company’s 50 day simple moving average is $15.80 and its two-hundred day simple moving average is $18.98. The firm has a market capitalization of $1.93 billion, a PE ratio of 6.21 and a beta of 1.41. Commercial Metals has a 12 month low of $10.76 and a 12 month high of $24.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.11 and a current ratio of 3.21.

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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