Wall Street brokerages expect Commercial Metals (NYSE:CMC – Get Rating) to post $1.97 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Commercial Metals’ earnings. The lowest EPS estimate is $1.80 and the highest is $2.14. Commercial Metals posted earnings per share of $1.04 in the same quarter last year, which would indicate a positive year-over-year growth rate of 89.4%. The company is scheduled to announce its next earnings results before the market opens on Monday, January 1st.
On average, analysts expect that Commercial Metals will report full-year earnings of $8.75 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will post earnings of $5.38 per share, with EPS estimates ranging from $4.05 to $6.71. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Commercial Metals.
Commercial Metals (NYSE:CMC – Get Rating) last posted its quarterly earnings data on Thursday, March 17th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.25. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.92 billion. Commercial Metals had a net margin of 11.43% and a return on equity of 27.25%. The company’s revenue was up 37.4% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share.
A number of equities analysts have commented on the company. KeyCorp reduced their target price on Commercial Metals from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. StockNews.com assumed coverage on Commercial Metals in a report on Thursday, March 31st. They issued a “buy” rating on the stock. BMO Capital Markets upped their target price on shares of Commercial Metals from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Friday, March 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Commercial Metals from $47.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, March 24th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Commercial Metals has a consensus rating of “Buy” and a consensus target price of $42.44.
Commercial Metals stock traded up $1.50 during midday trading on Thursday, reaching $40.53. The company had a trading volume of 33,316 shares, compared to its average volume of 1,206,510. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.23 and a quick ratio of 2.85. Commercial Metals has a 12-month low of $28.76 and a 12-month high of $46.68. The company has a market capitalization of $4.92 billion, a P/E ratio of 5.53 and a beta of 1.14. The firm’s fifty day simple moving average is $40.71 and its 200-day simple moving average is $37.35.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 13th. Shareholders of record on Wednesday, March 30th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Tuesday, March 29th. Commercial Metals’s dividend payout ratio (DPR) is presently 7.64%.
In related news, Director John R. Mcpherson bought 5,000 shares of the stock in a transaction on Tuesday, April 26th. The stock was bought at an average price of $40.55 per share, with a total value of $202,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $202,750. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barbara Smith sold 4,101 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $43.45, for a total transaction of $178,188.45. Following the completion of the sale, the chief executive officer now directly owns 533,785 shares in the company, valued at $23,192,958.25. The disclosure for this sale can be found here. In the last three months, insiders sold 38,582 shares of company stock valued at $1,718,106. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI acquired a new stake in Commercial Metals during the 4th quarter worth approximately $29,000. CWM LLC increased its position in shares of Commercial Metals by 222.2% during the first quarter. CWM LLC now owns 828 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 571 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Commercial Metals in the fourth quarter valued at $36,000. Exchange Traded Concepts LLC boosted its holdings in Commercial Metals by 127.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,135 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 636 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Commercial Metals by 920.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 920 shares during the period. Hedge funds and other institutional investors own 85.01% of the company’s stock.
About Commercial Metals (Get Rating)
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, 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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