Commercial Metals (NYSE:CMC) – Equities researchers at KeyCorp reduced their FY2019 earnings per share (EPS) estimates for shares of Commercial Metals in a research note issued on Wednesday, February 6th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $1.32 for the year, down from their previous estimate of $1.47. KeyCorp also issued estimates for Commercial Metals’ Q4 2019 earnings at $0.35 EPS and FY2020 earnings at $1.75 EPS.
Several other research analysts have also issued reports on CMC. Macquarie set a $23.00 price target on shares of Commercial Metals and gave the stock a “hold” rating in a report on Friday, October 26th. Citigroup lowered their price target on shares of Commercial Metals from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, October 29th. ValuEngine upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Longbow Research set a $25.00 price target on shares of Commercial Metals and gave the stock a “buy” rating in a report on Monday, December 3rd. Finally, Zacks Investment Research upgraded shares of Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.11.
Commercial Metals stock opened at $15.70 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.68 and a quick ratio of 1.58. Commercial Metals has a 52-week low of $15.23 and a 52-week high of $26.72. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 10.54 and a beta of 1.32.
Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Monday, January 7th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Commercial Metals had a net margin of 2.51% and a return on equity of 12.32%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $0.31 EPS. The company’s revenue was up 18.7% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Monday, January 14th. Commercial Metals’s dividend payout ratio (DPR) is 32.21%.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Commercial Metals by 2.8% during the 4th quarter. BlackRock Inc. now owns 13,455,935 shares of the basic materials company’s stock worth $215,565,000 after buying an additional 370,343 shares during the period. Vanguard Group Inc grew its position in shares of Commercial Metals by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 10,591,735 shares of the basic materials company’s stock worth $217,343,000 after buying an additional 78,875 shares during the period. Vanguard Group Inc. grew its position in shares of Commercial Metals by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,591,735 shares of the basic materials company’s stock worth $217,343,000 after buying an additional 78,875 shares during the period. FMR LLC grew its position in shares of Commercial Metals by 3.5% during the 3rd quarter. FMR LLC now owns 3,382,448 shares of the basic materials company’s stock worth $69,408,000 after buying an additional 113,404 shares during the period. Finally, Hodges Capital Management Inc. grew its position in shares of Commercial Metals by 11.0% during the 3rd quarter. Hodges Capital Management Inc. now owns 2,190,640 shares of the basic materials company’s stock worth $44,952,000 after buying an additional 216,384 shares during the period. 87.56% of the stock is owned by institutional investors.
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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