Equities analysts expect Commercial Metals (NYSE:CMC) to announce $1.31 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Commercial Metals’ earnings, with estimates ranging from $1.28 billion to $1.35 billion. Commercial Metals posted sales of $1.26 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4%. The business is scheduled to issue its next earnings results on Thursday, October 25th.

On average, analysts expect that Commercial Metals will report full year sales of $4.82 billion for the current financial year, with estimates ranging from $4.78 billion to $4.87 billion. For the next fiscal year, analysts forecast that the firm will post sales of $5.40 billion per share, with estimates ranging from $5.16 billion to $5.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Commercial Metals.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 21st. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Commercial Metals had a net margin of 1.21% and a return on equity of 8.65%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS.

A number of research firms have commented on CMC. Goldman Sachs Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 target price on the stock in a research report on Monday, August 13th. Bank of America downgraded shares of Commercial Metals from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 27th. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a research report on Monday, June 25th. Citigroup raised their price target on shares of Commercial Metals from $22.00 to $24.00 and gave the company a “hold” rating in a report on Tuesday, June 12th. Finally, ValuEngine upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $25.00.

Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in shares of Commercial Metals by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 81,233 shares of the basic materials company’s stock valued at $1,715,000 after buying an additional 2,354 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Commercial Metals by 4.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 74,946 shares of the basic materials company’s stock valued at $1,583,000 after buying an additional 3,041 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Commercial Metals by 3.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 100,336 shares of the basic materials company’s stock valued at $2,118,000 after buying an additional 3,279 shares in the last quarter. HL Financial Services LLC boosted its holdings in shares of Commercial Metals by 21.6% in the 1st quarter. HL Financial Services LLC now owns 19,000 shares of the basic materials company’s stock valued at $389,000 after buying an additional 3,370 shares in the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of Commercial Metals by 8.4% in the 1st quarter. Aperio Group LLC now owns 48,427 shares of the basic materials company’s stock valued at $991,000 after buying an additional 3,742 shares in the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

NYSE CMC traded up $0.40 during trading on Wednesday, reaching $21.84. 538,000 shares of the company’s stock traded hands, compared to its average volume of 1,496,036. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.73 and a current ratio of 3.90. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 35.06 and a beta of 1.39. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $26.72.

About Commercial Metals

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 five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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