Commercial Metals (CMC) Projected to Post Earnings on Thursday

Commercial Metals (NYSE:CMC) is expected to release its earnings data before the market opens on Thursday, March 20th. Analysts expect Commercial Metals to post earnings of $0.38 per share and revenue of $1.73 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.49 earnings per share. On average, analysts expect Commercial Metals to post $3 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Commercial Metals Stock Performance

Shares of CMC stock opened at $46.30 on Wednesday. The firm has a 50-day moving average of $48.89 and a 200-day moving average of $52.85. The company has a market cap of $5.26 billion, a P/E ratio of 41.71, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a one year low of $42.62 and a one year high of $64.53.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.56%. Commercial Metals’s dividend payout ratio is currently 64.86%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMC. Jefferies Financial Group lowered their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and lowered their target price for the company from $56.00 to $54.00 in a report on Friday, January 10th. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. Finally, BMO Capital Markets decreased their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.83.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.