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.

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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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Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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