Commercial Metals (NYSE:CMC) announced its quarterly earnings data on Thursday. The basic materials company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.22, MarketWatch Earnings reports. Commercial Metals had a return on equity of 18.16% and a net margin of 5.31%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $0.76 earnings per share. The company’s revenue was down 8.1% on a year-over-year basis.
CMC stock traded down $0.39 during mid-day trading on Thursday, hitting $22.54. 28,099 shares of the stock were exchanged, compared to its average volume of 1,128,874. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.42 and a quick ratio of 2.39. The business has a fifty day moving average price of $20.97 and a 200 day moving average price of $18.96. Commercial Metals has a 12 month low of $10.76 and a 12 month high of $24.04. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 3.43 and a beta of 1.40.
A number of research analysts recently weighed in on CMC shares. BMO Capital Markets boosted their target price on Commercial Metals from $15.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, June 19th. ValuEngine upgraded Commercial Metals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 6th. Cowen increased their price target on Commercial Metals from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, August 17th. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research note on Monday, September 28th. Finally, Credit Suisse Group increased their price target on Commercial Metals from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, June 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Commercial Metals has a consensus rating of “Buy” and a consensus target price of $21.71.
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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