Commercial Metals (NYSE:CMC) Issues Earnings Results

Commercial Metals (NYSE:CMC) issued its quarterly earnings data on Sunday. The basic materials company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05, MarketWatch Earnings reports. Commercial Metals had a net margin of 5.10% and a return on equity of 17.74%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year.

NYSE CMC traded up $0.98 during trading on Tuesday, reaching $22.64. 89,449 shares of the company traded hands, compared to its average volume of 1,184,147. Commercial Metals has a 1-year low of $10.76 and a 1-year high of $24.16. The stock’s 50 day moving average price is $20.60 and its two-hundred day moving average price is $20.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.13 and a current ratio of 2.97. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 3.52 and a beta of 1.24.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 4th. Shareholders of record on Thursday, January 21st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, January 20th. Commercial Metals’s payout ratio is 18.18%.

CMC has been the subject of a number of analyst reports. Bank of America cut Commercial Metals from a “neutral” rating to an “underperform” rating and set a $21.00 price target for the company. in a report on Tuesday. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Thursday, December 3rd. ValuEngine raised Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft lowered Commercial Metals from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research note on Friday. Finally, Zacks Investment Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Monday, September 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.44.

In related news, CEO Barbara Smith sold 82,082 shares of the business’s stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $22.87, for a total value of $1,877,215.34. Following the completion of the transaction, the chief executive officer now owns 769,105 shares in the company, valued at approximately $17,589,431.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Tracy L. Porter sold 51,918 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.81, for a total transaction of $1,080,413.58. Following the completion of the transaction, the chief operating officer now owns 10 shares of the company’s stock, valued at approximately $208.10. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, Germany, and internationally. The company processes and sells ferrous and nonferrous 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 for Commercial Metals (NYSE:CMC)

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