Commercial Metals Company (CMC) Scheduled to Post Earnings on Thursday
Commercial Metals Company (NYSE:CMC) will issue its quarterly earnings data before the market opens on Thursday, March 23rd. Analysts expect the company to announce earnings of $0.10 per share for the quarter.
Commercial Metals Company (NYSE:CMC) last posted its quarterly earnings results on Monday, January 9th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.06. The company earned $1.08 billion during the quarter. Commercial Metals Company had a net margin of 0.79% and a return on equity of 6.77%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. On average, analysts expect Commercial Metals Company to post $0.82 EPS for the current fiscal year and $1.48 EPS for the next fiscal year.
Commercial Metals Company (NYSE:CMC) opened at 18.79 on Tuesday. The firm has a 50-day moving average price of $20.75 and a 200-day moving average price of $19.43. Commercial Metals Company has a 1-year low of $14.57 and a 1-year high of $24.64. The company has a market capitalization of $2.17 billion, a P/E ratio of 61.81 and a beta of 1.38.
A number of research analysts have recently issued reports on CMC shares. Jefferies Group LLC downgraded Commercial Metals Company from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research note on Monday, December 12th. They noted that the move was a valuation call. Clarkson Capital downgraded Commercial Metals Company from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. Zacks Investment Research raised Commercial Metals Company from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, December 30th. Deutsche Bank AG started coverage on Commercial Metals Company in a research note on Thursday, January 5th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $19.00 price objective (up from $15.00) on shares of Commercial Metals Company in a research note on Friday, January 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $20.67.
In related news, VP Adam R. Hickey sold 2,085 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $20.85, for a total transaction of $43,472.25. Following the transaction, the vice president now directly owns 30,835 shares of the company’s stock, valued at approximately $642,909.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.
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About Commercial Metals Company
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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