Commercial Metals Company to Post Q1 2018 Earnings of $0.13 Per Share, Jefferies Group Forecasts (CMC)
Commercial Metals Company (NYSE:CMC) – Jefferies Group issued their Q1 2018 EPS estimates for Commercial Metals in a research report issued on Monday. Jefferies Group analyst S. Rosenfeld anticipates that the basic materials company will post earnings of $0.13 per share for the quarter. Jefferies Group has a “Buy” rating and a $24.00 price target on the stock. Jefferies Group also issued estimates for Commercial Metals’ Q2 2018 earnings at $0.26 EPS and Q3 2018 earnings at $0.55 EPS.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Commercial Metals had a net margin of 0.95% and a return on equity of 6.50%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share.
CMC has been the topic of several other research reports. Zacks Investment Research downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Macquarie initiated coverage on shares of Commercial Metals in a report on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 target price on the stock. Bank of America Corporation reiterated a “neutral” rating and issued a $21.00 target price (up previously from $20.00) on shares of Commercial Metals in a report on Tuesday, September 5th. Citigroup Inc. dropped their target price on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, September 15th. Finally, BidaskClub downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.56.
Commercial Metals (NYSE CMC) traded up 1.28% during trading on Tuesday, reaching $19.73. 1,088,674 shares of the company’s stock were exchanged. Commercial Metals has a 1-year low of $15.51 and a 1-year high of $24.64. The company’s 50-day moving average is $19.46 and its 200-day moving average is $18.90. The company has a market capitalization of $2.28 billion, a PE ratio of 30.49 and a beta of 1.22.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.48 annualized dividend and a yield of 2.46%. Commercial Metals’s dividend payout ratio is 120.00%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Palisade Capital Management LLC NJ grew its position in Commercial Metals by 1.9% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 598,075 shares of the basic materials company’s stock worth $11,381,000 after purchasing an additional 11,046 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Commercial Metals in the 3rd quarter worth $101,000. Crossmark Global Holdings Inc. acquired a new stake in Commercial Metals in the 3rd quarter worth $282,000. First Trust Advisors LP grew its position in Commercial Metals by 31.3% in the 3rd quarter. First Trust Advisors LP now owns 78,350 shares of the basic materials company’s stock worth $1,491,000 after purchasing an additional 18,696 shares during the last quarter. Finally, Trellus Management Company LLC acquired a new stake in Commercial Metals in the 3rd quarter worth $590,000. Institutional investors own 90.38% of the company’s stock.
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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