Commercial Metals (NYSE:CMC) issued its earnings results on Thursday. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.22, MarketWatch Earnings reports. Commercial Metals had a return on equity of 18.16% and a net margin of 5.31%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The business’s quarterly revenue was down 8.1% compared to the same quarter last year.
Commercial Metals stock traded down $0.25 during trading hours on Thursday, hitting $22.68. The stock had a trading volume of 28,641 shares, compared to its average volume of 1,128,874. The company has a 50-day moving average of $20.97 and a two-hundred day moving average of $18.96. The company has a quick ratio of 2.39, a current ratio of 3.42 and a debt-to-equity ratio of 0.64. The company has a market cap of $2.76 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 3.43 and a beta of 1.40. Commercial Metals has a fifty-two week low of $10.76 and a fifty-two week high of $24.04.
A number of analysts have weighed in on the company. Cowen boosted their price target on Commercial Metals from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, August 17th. BMO Capital Markets boosted their price target on Commercial Metals from $15.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, June 19th. Credit Suisse Group boosted their price target on Commercial Metals from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, June 19th. ValuEngine raised Commercial Metals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 6th. Finally, Zacks Investment Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research report on Monday, September 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $21.71.
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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