Commercial Metals (NYSE:CMC) – Analysts at KeyCorp issued their Q2 2018 earnings per share estimates for Commercial Metals in a note issued to investors on Wednesday. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings of $0.34 per share for the quarter. KeyCorp also issued estimates for Commercial Metals’ Q3 2018 earnings at $0.42 EPS and FY2019 earnings at $1.55 EPS.
Other equities research analysts have also issued research reports about the stock. Jefferies Group upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Citigroup lowered their target price on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, September 15th. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $21.00 to $24.00 in a report on Thursday, December 7th. Finally, Zacks Investment Research lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Four analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.88.
Commercial Metals (NYSE:CMC) traded up $0.18 during trading on Friday, hitting $24.48. 4,679,400 shares of the stock traded hands, compared to its average volume of 5,085,900. The company has a market cap of $2,834.12, a price-to-earnings ratio of 37.09 and a beta of 1.26. The company has a quick ratio of 1.81, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $25.18.
Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.14. The business had revenue of $1.24 billion during 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 quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be issued a $0.12 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.96%. Commercial Metals’s dividend payout ratio (DPR) is presently 72.73%.
Hedge funds have recently bought and sold shares of the stock. 3G Capital Partners LP purchased a new position in Commercial Metals in the 3rd quarter worth about $9,515,000. Koch Industries Inc. purchased a new position in Commercial Metals in the 2nd quarter worth about $270,000. Russell Investments Group Ltd. increased its stake in 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 period. Janus Henderson Group PLC purchased a new position in Commercial Metals in the 2nd quarter worth about $29,018,000. Finally, Hodges Capital Management Inc. increased its stake in 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 period. 88.55% of the stock is currently owned by 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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