Equities analysts forecast that Commercial Metals (NYSE:CMC) will announce $1.50 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Commercial Metals’ earnings. The highest sales estimate is $1.50 billion and the lowest is $1.49 billion. Commercial Metals posted sales of $1.34 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.9%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, March 18th.
According to Zacks, analysts expect that Commercial Metals will report full-year sales of $6.00 billion for the current fiscal year, with estimates ranging from $5.95 billion to $6.05 billion. For the next financial year, analysts anticipate that the company will post sales of $5.82 billion, with estimates ranging from $5.81 billion to $5.83 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Commercial Metals.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Sunday, January 10th. The basic materials company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.37 billion. Commercial Metals had a return on equity of 16.20% and a net margin of 4.75%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Commercial Metals from a “sell” rating to a “hold” rating and set a $23.00 price objective on the stock in a research note on Monday, February 15th. Deutsche Bank Aktiengesellschaft downgraded Commercial Metals from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Friday, January 8th. Smith Barney Citigroup lifted their target price on Commercial Metals from $21.00 to $22.00 in a research report on Tuesday, January 12th. Bank of America downgraded Commercial Metals from a “neutral” rating to an “underperform” rating and set a $21.00 target price on the stock. in a research report on Tuesday, January 12th. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Thursday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.44.
Commercial Metals stock opened at $28.76 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 3.54. The business’s 50-day simple moving average is $22.57 and its 200-day simple moving average is $21.27. The firm has a market capitalization of $3.45 billion, a PE ratio of 13.31, a PEG ratio of 3.60 and a beta of 1.24. Commercial Metals has a 52 week low of $10.76 and a 52 week high of $28.86.
In other Commercial Metals news, CEO Barbara Smith sold 82,082 shares of Commercial Metals stock in a transaction that occurred on Wednesday, January 6th. The stock was sold at an average price of $22.87, for a total transaction of $1,877,215.34. Following the sale, the chief executive officer now directly owns 769,105 shares of the company’s stock, valued at $17,589,431.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 126,982 shares of company stock worth $3,063,617 over the last ninety days. Company insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in Commercial Metals during the third quarter valued at approximately $98,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Commercial Metals by 20.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 5,880 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 978 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $192,000. Mackay Shields LLC acquired a new position in shares of Commercial Metals in the 3rd quarter worth approximately $210,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $223,000. 84.15% of the stock is currently owned by institutional investors.
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, Germany, and internationally. 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.
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