Brokerages expect that Commercial Metals (NYSE:CMC) will announce $1.63 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Commercial Metals’ earnings. The lowest sales estimate is $1.59 billion and the highest is $1.69 billion. Commercial Metals reported sales of $1.20 billion during the same quarter last year, which would suggest a positive year over year growth rate of 35.8%. The company is scheduled to issue its next quarterly earnings report on Thursday, June 20th.
On average, analysts expect that Commercial Metals will report full year sales of $6.05 billion for the current year, with estimates ranging from $5.91 billion to $6.41 billion. For the next year, analysts anticipate that the firm will report sales of $6.32 billion, with estimates ranging from $6.15 billion to $6.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Commercial Metals.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.46 billion. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The business’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share.
A number of research firms have commented on CMC. ValuEngine raised Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Friday, March 22nd. Macquarie raised Commercial Metals from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $15.23 to $17.37 in a research note on Friday, March 22nd. Finally, Cowen reissued a “market perform” rating and issued a $18.50 price objective (up previously from $17.00) on shares of Commercial Metals in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.23.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Commercial Metals by 2.8% during the fourth quarter. BlackRock Inc. now owns 13,455,935 shares of the basic materials company’s stock valued at $215,565,000 after acquiring an additional 370,343 shares during the period. Vanguard Group Inc. lifted its stake in shares of Commercial Metals by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,591,735 shares of the basic materials company’s stock valued at $217,343,000 after acquiring an additional 78,875 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Commercial Metals by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,879,738 shares of the basic materials company’s stock valued at $168,745,000 after acquiring an additional 100,388 shares during the period. Northern Trust Corp lifted its stake in shares of Commercial Metals by 0.8% during the first quarter. Northern Trust Corp now owns 2,865,535 shares of the basic materials company’s stock valued at $48,942,000 after acquiring an additional 22,600 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Commercial Metals by 40.9% during the first quarter. Deprince Race & Zollo Inc. now owns 2,544,127 shares of the basic materials company’s stock valued at $43,454,000 after acquiring an additional 738,399 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.
Commercial Metals stock opened at $15.49 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.60 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.92 and a beta of 1.30. Commercial Metals has a 52 week low of $15.14 and a 52 week high of $24.95.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, April 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, April 4th. Commercial Metals’s dividend payout ratio (DPR) is presently 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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