Commercial Metals (NYSE:CMC) Releases Earnings Results, Beats Estimates By $0.05 EPS

Commercial Metals (NYSE:CMC) released its quarterly earnings results on Monday. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05, MarketWatch Earnings reports. Commercial Metals had a return on equity of 17.74% and a net margin of 5.10%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted $0.73 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis.

NYSE:CMC traded down $0.35 during trading hours on Monday, reaching $22.21. The company’s stock had a trading volume of 31,903 shares, compared to its average volume of 1,588,627. The stock has a 50 day moving average price of $20.50 and a two-hundred day moving average price of $20.74. The company has a market capitalization of $2.67 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.13 and a current ratio of 2.97. Commercial Metals has a 12 month low of $10.76 and a 12 month high of $24.16.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 4th. Shareholders of record on Thursday, January 21st will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.16%. Commercial Metals’s dividend payout ratio (DPR) is presently 18.18%.

A number of brokerages recently commented on CMC. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Thursday, December 3rd. Citigroup raised their price target on Commercial Metals from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, October 16th. Bank of America cut Commercial Metals from a “buy” rating to a “neutral” rating and set a $24.00 price target on the stock. in a report on Friday, October 16th. 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. Finally, ValuEngine raised Commercial Metals from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.88.

In related news, CEO Barbara Smith sold 82,082 shares of the company’s stock in a transaction on Wednesday, January 6th. The stock was sold at an average price of $22.87, for a total value 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 approximately $17,589,431.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Tracy L. Porter sold 51,918 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.81, for a total value of $1,080,413.58. Following the completion of 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. Corporate insiders own 1.40% of the company’s stock.

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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Earnings History for Commercial Metals (NYSE:CMC)

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