Wall Street brokerages expect Commercial Metals (NYSE:CMC) to post $1.20 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Commercial Metals’ earnings. The highest sales estimate is $1.25 billion and the lowest is $1.17 billion. Commercial Metals reported sales of $1.15 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The firm is scheduled to announce its next earnings report on Thursday, March 22nd.

According to Zacks, analysts expect that Commercial Metals will report full-year sales of $1.20 billion for the current year, with estimates ranging from $5.11 billion to $5.22 billion. For the next financial year, analysts forecast that the company will report sales of $5.43 billion per share, with estimates ranging from $5.01 billion to $6.37 billion. Zacks Investment Research’s sales averages 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 posted its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.14. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. Commercial Metals’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS.

CMC has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $21.00 to $24.00 in a report on Thursday, December 7th. Finally, Jefferies Group decreased their target price on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 30th. Four analysts have rated the stock with a sell rating and five have given a buy rating to the company. Commercial Metals presently has an average rating of “Hold” and a consensus target price of $21.88.

Commercial Metals (CMC) traded down $0.20 during trading on Tuesday, reaching $22.42. 2,303,024 shares of the company were exchanged, compared to its average volume of 2,137,994. The company has a quick ratio of 2.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. The company has a market cap of $2,580.00, a price-to-earnings ratio of 41.02 and a beta of 1.27. Commercial Metals has a twelve month low of $17.05 and a twelve month high of $25.90.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Friday, January 12th. Commercial Metals’s payout ratio is 88.89%.

In other news, EVP Tracy L. Porter sold 6,935 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total value of $174,345.90. Following the transaction, the executive vice president now owns 10 shares of the company’s stock, valued at approximately $251.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy L. Porter sold 13,601 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total transaction of $340,569.04. Following the completion of the transaction, the executive vice president now directly owns 10 shares in the company, valued at approximately $250.40. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. 3G Capital Partners LP bought a new position in shares of Commercial Metals in the 3rd quarter worth $9,515,000. Koch Industries Inc. bought a new position in shares of Commercial Metals in the 2nd quarter worth $270,000. Russell Investments Group Ltd. increased its holdings in shares of Commercial Metals by 4,203.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock worth $11,218,000 after buying an additional 575,835 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Commercial Metals in the 2nd quarter worth $29,018,000. Finally, Hodges Capital Management Inc. increased its holdings in shares of Commercial Metals by 1.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,057,486 shares of the basic materials company’s stock worth $20,124,000 after buying an additional 16,490 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

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About Commercial Metals

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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