Analysts Anticipate Commercial Metals (CMC) to Post $0.25 Earnings Per Share

Wall Street brokerages expect Commercial Metals (NYSE:CMC) to post earnings of $0.25 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Commercial Metals’ earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.22. Commercial Metals reported earnings of $0.26 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, March 21st.

On average, analysts expect that Commercial Metals will report full year earnings of $1.82 per share for the current year, with EPS estimates ranging from $1.54 to $2.06. For the next year, analysts expect that the business will report earnings of $2.16 per share, with EPS estimates ranging from $1.70 to $2.48. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Commercial Metals.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 7th. The basic materials company reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. Commercial Metals had a return on equity of 12.32% and a net margin of 2.51%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 18.7% on a year-over-year basis.



CMC has been the topic of several research analyst reports. Goldman Sachs Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, January 14th. Longbow Research set a $25.00 price objective on Commercial Metals and gave the stock a “buy” rating in a report on Monday, December 3rd. Seaport Global Securities reiterated a “hold” rating on shares of Commercial Metals in a report on Tuesday, January 8th. Macquarie set a $21.00 price objective on Commercial Metals and gave the stock a “hold” rating in a report on Tuesday, January 8th. Finally, Citigroup set a $18.00 price objective on Commercial Metals and gave the stock a “hold” rating in a report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $21.11.

Shares of NYSE:CMC traded down $0.38 during trading on Friday, reaching $15.79. 1,229,526 shares of the company’s stock traded hands, compared to its average volume of 1,607,334. Commercial Metals has a fifty-two week low of $15.23 and a fifty-two week high of $24.95. The company has a quick ratio of 1.58, a current ratio of 2.68 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.90 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31.

Several institutional investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. boosted its holdings in shares of Commercial Metals by 1.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 58,610 shares of the basic materials company’s stock worth $939,000 after purchasing an additional 800 shares during the last quarter. SignalPoint Asset Management LLC raised its position in shares of Commercial Metals by 3.5% during the 4th quarter. SignalPoint Asset Management LLC now owns 25,331 shares of the basic materials company’s stock valued at $406,000 after buying an additional 852 shares during the period. Retirement Systems of Alabama raised its position in shares of Commercial Metals by 0.9% during the 4th quarter. Retirement Systems of Alabama now owns 152,509 shares of the basic materials company’s stock valued at $2,443,000 after buying an additional 1,290 shares during the period. Bank of Montreal Can raised its position in shares of Commercial Metals by 1.4% during the 4th quarter. Bank of Montreal Can now owns 92,612 shares of the basic materials company’s stock valued at $1,483,000 after buying an additional 1,290 shares during the period. Finally, American International Group Inc. raised its position in shares of Commercial Metals by 0.4% during the 4th quarter. American International Group Inc. now owns 314,320 shares of the basic materials company’s stock valued at $5,035,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

Commercial Metals Company Profile

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

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