$0.19 Earnings Per Share Expected for Commercial Metals Company (CMC) This Quarter

Wall Street analysts predict that Commercial Metals Company (NYSE:CMC) will post earnings of $0.19 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Commercial Metals’ earnings. The highest EPS estimate is $0.34 and the lowest is $0.12. Commercial Metals reported earnings of $0.10 per share in the same quarter last year, which would indicate a positive year over year growth rate of 90%. The firm is scheduled to report its next quarterly earnings results on Monday, January 8th.

On average, analysts expect that Commercial Metals will report full-year earnings of $1.28 per share for the current fiscal year, with EPS estimates ranging from $0.99 to $1.67. For the next financial year, analysts forecast that the company will post earnings of $1.75 per share, with EPS estimates ranging from $1.35 to $2.09. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Commercial Metals.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, October 26th. The company reported C$0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.20 by C($0.13). Commercial Metals had a return on equity of 6.50% and a net margin of 0.95%. The firm had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.21 billion. During the same period last year, the firm earned $0.01 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis.

Several research firms recently issued reports on CMC. BidaskClub downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC dropped their price target on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. Clarkson Capital reaffirmed a “sell” rating and set a $16.00 price target on shares of Commercial Metals in a research note on Tuesday, August 15th. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research note on Tuesday, October 17th. Finally, Macquarie began coverage on shares of Commercial Metals in a research note on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Commercial Metals presently has a consensus rating of “Hold” and an average price target of C$21.50.

Shares of Commercial Metals (CMC) opened at C$18.63 on Monday. Commercial Metals has a one year low of C$17.05 and a one year high of C$24.64. The stock has a market cap of $2,158.10, a price-to-earnings ratio of 24.51, a P/E/G ratio of 0.69 and a beta of 1.26. The company has a current ratio of 2.82, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Tuesday, November 7th. Commercial Metals’s payout ratio is currently 120.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in shares of Commercial Metals in the 3rd quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Commercial Metals by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company’s stock worth $114,000 after purchasing an additional 522 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Commercial Metals by 56.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,892 shares of the company’s stock worth $134,000 after purchasing an additional 2,492 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Commercial Metals by 20.2% in the 2nd quarter. LS Investment Advisors LLC now owns 9,197 shares of the company’s stock worth $179,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Cim Investment Mangement Inc. bought a new stake in shares of Commercial Metals in the 2nd quarter worth about $202,000. 91.30% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://ledgergazette.com/2017/11/13/0-19-earnings-per-share-expected-for-commercial-metals-company-cmc-this-quarter.html.

About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Get a free copy of the Zacks research report on Commercial Metals (CMC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply