Equities analysts predict that Commercial Metals (NYSE:CMC) will post $0.51 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Commercial Metals’ earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.47. Commercial Metals posted earnings per share of $0.07 in the same quarter last year, which suggests a positive year over year growth rate of 628.6%. The company is scheduled to issue its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that Commercial Metals will report full-year earnings of $1.49 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.57. For the next year, analysts expect that the company will post earnings of $2.18 per share, with EPS estimates ranging from $1.55 to $2.86. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Commercial Metals.
Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 21st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.27 billion. Commercial Metals had a return on equity of 8.65% and a net margin of 1.21%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share.
Several research analysts have recently issued reports on CMC shares. ValuEngine raised Commercial Metals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised Commercial Metals from a “sell” rating to a “hold” rating in a research report on Monday, June 25th. Citigroup upped their price objective on Commercial Metals from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Tuesday, June 12th. Goldman Sachs Group raised Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 price objective for the company in a research report on Monday, August 13th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Commercial Metals in a research report on Thursday, May 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.00.
Shares of NYSE:CMC traded up $0.29 on Monday, hitting $21.44. 605,821 shares of the company’s stock were exchanged, compared to its average volume of 1,502,061. The stock has a market cap of $2.54 billion, a P/E ratio of 34.58 and a beta of 1.39. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $26.72. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.73 and a current ratio of 3.90.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 19th. Investors of record on Thursday, July 5th were given a $0.12 dividend. The ex-dividend date was Tuesday, July 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.24%. Commercial Metals’s dividend payout ratio (DPR) is presently 77.42%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Commercial Metals by 3.2% in the 2nd quarter. BlackRock Inc. now owns 12,908,547 shares of the basic materials company’s stock valued at $272,500,000 after purchasing an additional 394,482 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Commercial Metals by 9.0% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 4,244,481 shares of the basic materials company’s stock valued at $89,601,000 after purchasing an additional 350,990 shares during the period. FMR LLC boosted its position in shares of Commercial Metals by 104.5% in the 2nd quarter. FMR LLC now owns 3,269,044 shares of the basic materials company’s stock valued at $69,010,000 after purchasing an additional 1,670,640 shares during the period. Voya Investment Management LLC boosted its position in shares of Commercial Metals by 2.9% in the 2nd quarter. Voya Investment Management LLC now owns 2,133,160 shares of the basic materials company’s stock valued at $45,031,000 after purchasing an additional 60,443 shares during the period. Finally, Systematic Financial Management LP boosted its position in shares of Commercial Metals by 251.0% in the 1st quarter. Systematic Financial Management LP now owns 2,054,114 shares of the basic materials company’s stock valued at $42,027,000 after purchasing an additional 1,468,866 shares during the period. 89.37% of the stock is owned by hedge funds and other institutional investors.
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 five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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