Zacks: Analysts Anticipate Commercial Metals (CMC) to Announce $0.43 EPS

Wall Street brokerages expect Commercial Metals (NYSE:CMC) to report $0.43 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Commercial Metals’ earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.35. Commercial Metals posted earnings of $0.34 per share in the same quarter last year, which suggests a positive year over year growth rate of 26.5%. The business is scheduled to issue its next earnings results on Thursday, June 28th.

On average, analysts expect that Commercial Metals will report full year earnings of $1.41 per share for the current year, with EPS estimates ranging from $1.09 to $1.65. For the next financial year, analysts forecast that the business will post earnings of $2.17 per share, with EPS estimates ranging from $1.55 to $2.86. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Commercial Metals.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 22nd. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Commercial Metals had a net margin of 1.15% and a return on equity of 8.05%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 22.3% on a year-over-year basis.



Several research firms recently commented on CMC. Jefferies Group reissued a “buy” rating on shares of Commercial Metals in a research note on Friday, March 23rd. Longbow Research began coverage on shares of Commercial Metals in a research note on Friday, April 6th. They set a “buy” rating and a $27.00 target price for the company. Zacks Investment Research lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Goldman Sachs began coverage on shares of Commercial Metals in a research note on Tuesday, March 20th. They set a “sell” rating and a $25.00 target price for the company. Finally, Citigroup lowered shares of Commercial Metals from a “buy” rating to a “neutral” rating and cut their target price for the company from $26.72 to $22.00 in a research note on Tuesday, April 3rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $23.44.

CMC stock traded down $0.11 on Friday, hitting $20.22. 764,741 shares of the company’s stock traded hands, compared to its average volume of 2,039,555. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $26.72. The firm has a market cap of $2,312.81, a PE ratio of 32.66, a P/E/G ratio of 0.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.11 and a quick ratio of 2.12.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Wednesday, April 4th will be given a $0.12 dividend. The ex-dividend date is Tuesday, April 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.37%. Commercial Metals’s dividend payout ratio (DPR) is presently 77.42%.

In related news, CAO Adam R. Hickey sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $25.50, for a total value of $510,000.00. Following the completion of the sale, the chief accounting officer now owns 15,632 shares in the company, valued at approximately $398,616. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tracy L. Porter sold 6,935 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total transaction of $174,345.90. Following the completion of the sale, the executive vice president now owns 10 shares of the company’s stock, valued at approximately $251.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,536 shares of company stock valued at $1,541,915. 1.50% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. ING Groep NV increased its stake in Commercial Metals by 23.3% in the 4th quarter. ING Groep NV now owns 17,479 shares of the basic materials company’s stock valued at $373,000 after buying an additional 3,299 shares during the period. GSA Capital Partners LLP acquired a new position in Commercial Metals in the 3rd quarter valued at approximately $295,000. Wealthstreet Investment Advisors LLC acquired a new position in Commercial Metals in the 4th quarter valued at approximately $350,000. Frontier Investment Mgmt Co. acquired a new position in Commercial Metals in the 4th quarter valued at approximately $617,000. Finally, Swiss National Bank increased its stake in Commercial Metals by 3.6% in the 4th quarter. Swiss National Bank now owns 197,300 shares of the basic materials company’s stock valued at $4,206,000 after buying an additional 6,900 shares during the period. Institutional investors and hedge funds own 88.23% of the company’s stock.

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Commercial Metals Company Profile

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

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