Analysts Anticipate Commercial Metals (CMC) to Announce $0.19 Earnings Per Share
Equities research analysts predict that Commercial Metals (NYSE:CMC) will post $0.19 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Commercial Metals’ earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.34. Commercial Metals reported earnings of $0.10 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 90%. The business is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, January 3rd.
According to Zacks, analysts expect that Commercial Metals will report full-year earnings of $1.26 per share for the current fiscal year, with EPS estimates ranging from $0.99 to $1.67. For the next financial year, analysts anticipate that the business will post earnings of $1.75 per share, with EPS estimates ranging from $1.36 to $2.09. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Commercial Metals.
Several research firms recently issued reports on CMC. Zacks Investment Research raised Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research note on Tuesday, October 17th. Jefferies Group raised Commercial Metals from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Citigroup decreased their target price on Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Bank of America reissued a “neutral” rating and set a $21.00 target price (up previously from $20.00) on shares of Commercial Metals in a research note on Tuesday, September 5th. Finally, Macquarie began coverage on Commercial Metals in a research note on Wednesday, September 6th. They set an “underperform” rating and a $16.00 target price on the stock. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Commercial Metals currently has a consensus rating of “Hold” and a consensus target price of $21.88.
Commercial Metals (CMC) opened at $20.61 on Friday. Commercial Metals has a 12 month low of $17.05 and a 12 month high of $23.28. The company has a current ratio of 2.82, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2,382.76, a PE ratio of 26.88 and a beta of 1.26.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, November 7th. Commercial Metals’s dividend payout ratio is currently 120.00%.
A number of hedge funds have recently bought and sold shares of CMC. Great West Life Assurance Co. Can raised its position in Commercial Metals by 4.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 68,879 shares of the basic materials company’s stock valued at $1,337,000 after purchasing an additional 2,713 shares in the last quarter. Sei Investments Co. raised its position in Commercial Metals by 915.5% in the 2nd quarter. Sei Investments Co. now owns 31,653 shares of the basic materials company’s stock valued at $615,000 after purchasing an additional 28,536 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Commercial Metals by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 615,915 shares of the basic materials company’s stock valued at $11,968,000 after purchasing an additional 21,272 shares in the last quarter. Arizona State Retirement System raised its position in Commercial Metals by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 48,800 shares of the basic materials company’s stock valued at $948,000 after purchasing an additional 700 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Commercial Metals by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,972,782 shares of the basic materials company’s stock valued at $57,762,000 after purchasing an additional 115,908 shares in the last quarter. 88.62% of the stock is currently owned by institutional investors.
Commercial Metals Company Profile
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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