Wall Street brokerages expect that Commercial Metals (NYSE:CMC) will report earnings per share (EPS) of $0.62 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Commercial Metals’ earnings. The lowest EPS estimate is $0.52 and the highest is $0.75. Commercial Metals reported earnings per share of $0.41 during the same quarter last year, which suggests a positive year over year growth rate of 51.2%. The business is expected to issue its next earnings report on Thursday, June 20th.
On average, analysts expect that Commercial Metals will report full-year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.70 to $2.20. For the next year, analysts anticipate that the business will post earnings of $2.13 per share, with EPS estimates ranging from $1.75 to $2.55. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Commercial Metals.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. Commercial Metals had a net margin of 2.41% and a return on equity of 12.49%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $0.26 EPS. The company’s revenue was up 33.1% on a year-over-year basis.
A number of research analysts have recently weighed in on the stock. ValuEngine raised shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Friday, March 22nd. Macquarie raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $15.23 to $17.37 in a research note on Friday, March 22nd. Finally, Cowen reaffirmed a “market perform” rating and issued a $18.50 target price (up from $17.00) on shares of Commercial Metals in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Commercial Metals currently has an average rating of “Hold” and a consensus price target of $20.23.
Shares of CMC traded up $0.39 during mid-day trading on Thursday, reaching $15.37. 591,312 shares of the company’s stock were exchanged, compared to its average volume of 1,467,659. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.75 and a quick ratio of 1.60. Commercial Metals has a 52-week low of $14.84 and a 52-week high of $24.95. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30.
A number of hedge funds have recently added to or reduced their stakes in the business. First Dallas Securities Inc. grew its stake in Commercial Metals by 58.1% in the 1st quarter. First Dallas Securities Inc. now owns 304,706 shares of the basic materials company’s stock worth $5,204,000 after acquiring an additional 111,958 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in Commercial Metals by 1,300.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,607 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 8,921 shares during the period. SEI Investments Co grew its stake in Commercial Metals by 10.8% in the 1st quarter. SEI Investments Co now owns 216,846 shares of the basic materials company’s stock worth $3,703,000 after acquiring an additional 21,178 shares during the period. Ellington Management Group LLC purchased a new stake in Commercial Metals in the 1st quarter worth approximately $273,000. Finally, Wellington Management Group LLP grew its stake in Commercial Metals by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 2,445,046 shares of the basic materials company’s stock worth $41,763,000 after acquiring an additional 83,365 shares during the period. 88.90% 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 four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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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