Commercial Metals (NYSE:CMC) – Stock analysts at KeyCorp lifted their FY2019 earnings per share (EPS) estimates for Commercial Metals in a report issued on Wednesday, July 10th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $2.07 per share for the year, up from their prior estimate of $2.05. KeyCorp also issued estimates for Commercial Metals’ FY2020 earnings at $1.80 EPS.

Several other research analysts have also recently commented on the company. Deutsche Bank set a $81.00 target price on Franco Nevada and gave the stock a “hold” rating in a research note on Thursday. Bank of America set a $77.00 target price on Zscaler and gave the stock a “neutral” rating in a research note on Friday, May 31st. Cowen set a $27.00 target price on Schnitzer Steel Industries and gave the stock a “hold” rating in a research note on Tuesday, April 9th. ValuEngine raised Xylem from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Finally, TheStreet cut Wayside Technology Group from a “b-” rating to a “c” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Commercial Metals presently has a consensus rating of “Hold” and a consensus target price of $19.10.

CMC opened at $17.73 on Friday. Commercial Metals has a 12 month low of $13.27 and a 12 month high of $22.87. The firm has a market cap of $2.09 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.23 and a beta of 1.68. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.00 and a quick ratio of 1.86. The business’s fifty day moving average is $15.92.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 20th. The basic materials company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Commercial Metals had a return on equity of 14.34% and a net margin of 2.92%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the firm posted $0.41 EPS. Commercial Metals’s revenue for the quarter was up 33.3% on a year-over-year basis.

Several large investors have recently added to or reduced their stakes in CMC. Nisa Investment Advisors LLC increased its position in Commercial Metals by 9.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 29,675 shares of the basic materials company’s stock worth $530,000 after purchasing an additional 2,600 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Commercial Metals during the 2nd quarter worth approximately $187,000. Centaurus Financial Inc. acquired a new position in Commercial Metals during the 1st quarter worth approximately $60,000. First Trust Advisors LP increased its position in Commercial Metals by 101.6% during the 1st quarter. First Trust Advisors LP now owns 106,923 shares of the basic materials company’s stock worth $1,826,000 after purchasing an additional 53,885 shares during the period. Finally, First Dallas Securities Inc. increased its position in Commercial Metals by 58.1% during the 1st quarter. First Dallas Securities Inc. now owns 304,706 shares of the basic materials company’s stock worth $5,204,000 after purchasing an additional 111,958 shares during the period. 90.61% of the stock is owned by institutional investors and hedge funds.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, July 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.71%. Commercial Metals’s dividend payout ratio is currently 32.21%.

Commercial Metals Company Profile

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

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