Wall Street brokerages forecast that Commercial Metals (NYSE:CMC) will report sales of $1.63 billion for the current quarter, according to Zacks. Four analysts have provided estimates for Commercial Metals’ earnings, with estimates ranging from $1.59 billion to $1.69 billion. Commercial Metals reported sales of $1.20 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 35.8%. The firm is expected to report its next quarterly earnings results on Thursday, June 20th.

According to Zacks, analysts expect that Commercial Metals will report full-year sales of $6.14 billion for the current year, with estimates ranging from $5.92 billion to $6.87 billion. For the next financial year, analysts anticipate that the company will post sales of $6.43 billion, with estimates ranging from $6.15 billion to $7.15 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Commercial Metals.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. Commercial Metals had a net margin of 2.41% and a return on equity of 12.49%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share.

Several brokerages recently commented on CMC. Goldman Sachs Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Monday, January 14th. ValuEngine upgraded shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Friday, March 22nd. Seaport Global Securities reissued a “hold” rating on shares of Commercial Metals in a report on Tuesday, January 8th. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, January 2nd. Finally, Citigroup set a $18.00 price objective on Commercial Metals and gave the company a “hold” rating in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.23.

A number of institutional investors have recently added to or reduced their stakes in CMC. Norges Bank acquired a new position in shares of Commercial Metals in the 4th quarter valued at $20,566,000. Prudential Financial Inc. raised its holdings in Commercial Metals by 233.4% in the 4th quarter. Prudential Financial Inc. now owns 1,715,532 shares of the basic materials company’s stock worth $27,483,000 after purchasing an additional 1,200,911 shares during the period. Man Group plc raised its holdings in Commercial Metals by 1,141.2% in the 3rd quarter. Man Group plc now owns 934,258 shares of the basic materials company’s stock worth $19,171,000 after purchasing an additional 858,985 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Commercial Metals by 1,502.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 739,003 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 692,873 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in Commercial Metals by 99.3% during the fourth quarter. Ceredex Value Advisors LLC now owns 827,357 shares of the basic materials company’s stock worth $13,254,000 after purchasing an additional 412,291 shares in the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.

NYSE:CMC traded down $0.51 during midday trading on Tuesday, reaching $17.61. 1,210,240 shares of the stock traded hands, compared to its average volume of 1,619,937. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.81 and a beta of 1.31. Commercial Metals has a 12-month low of $15.23 and a 12-month high of $24.95. The company has a quick ratio of 1.60, a current ratio of 2.75 and a debt-to-equity ratio of 0.87.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, April 5th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, April 4th. Commercial Metals’s dividend payout ratio (DPR) is 32.21%.

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 four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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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