Commercial Metals (NYSE:CMC) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Commercial Metals (NYSE:CMC) posted its quarterly earnings results on Thursday. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05), Zacks reports. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year.

Commercial Metals Stock Up 1.0 %

Commercial Metals stock opened at $47.34 on Friday. The company has a market capitalization of $5.38 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a fifty-two week low of $42.62 and a fifty-two week high of $64.53. The firm has a 50 day moving average price of $48.87 and a 200 day moving average price of $52.77.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CMC. Morgan Stanley dropped their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Finally, UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and a consensus target price of $61.83.

Commercial Metals Company Profile

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.