Wall Street analysts predict that Commercial Metals (NYSE:CMC) will post $1.63 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Commercial Metals’ earnings. The lowest sales estimate is $1.59 billion and the highest is $1.69 billion. Commercial Metals posted sales of $1.20 billion during the same quarter last year, which suggests a positive year over year growth rate of 35.8%. The company is scheduled to report its next quarterly earnings report on Thursday, June 20th.
According to Zacks, analysts expect that Commercial Metals will report full-year sales of $6.05 billion for the current financial year, with estimates ranging from $5.91 billion to $6.41 billion. For the next financial year, analysts forecast that the business will report sales of $6.32 billion, with estimates ranging from $6.15 billion to $6.63 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Commercial Metals.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.46 billion. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share.
Commercial Metals stock opened at $17.58 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.60 and a current ratio of 2.75. The stock has a market capitalization of $2.07 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31. Commercial Metals has a 52 week low of $15.23 and a 52 week high of $24.95.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Friday, April 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Thursday, April 4th. Commercial Metals’s dividend payout ratio (DPR) is presently 32.21%.
Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its position in Commercial Metals by 36.1% during the third quarter. Deutsche Bank AG now owns 531,088 shares of the basic materials company’s stock worth $10,896,000 after buying an additional 141,010 shares in the last quarter. Penn Capital Management Co. Inc. boosted its holdings in Commercial Metals by 15.6% during the fourth quarter. Penn Capital Management Co. Inc. now owns 27,919 shares of the basic materials company’s stock valued at $1,135,000 after purchasing an additional 3,778 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in Commercial Metals by 78.0% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 39,560 shares of the basic materials company’s stock valued at $634,000 after purchasing an additional 17,340 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Commercial Metals by 1.1% during the third quarter. Teachers Advisors LLC now owns 270,435 shares of the basic materials company’s stock valued at $5,549,000 after purchasing an additional 2,902 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in Commercial Metals by 0.8% during the third quarter. Vanguard Group Inc now owns 10,591,735 shares of the basic materials company’s stock valued at $217,343,000 after purchasing an additional 78,875 shares in the last quarter. 88.79% of the stock is currently owned by institutional investors and hedge funds.
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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