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.
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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.
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