Analysts Anticipate Commercial Metals Company (NYSE:CMC) to Announce $0.31 EPS

Equities research analysts predict that Commercial Metals Company (NYSE:CMC) will post $0.31 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Commercial Metals Company’s earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.27. Commercial Metals Company reported earnings per share of $0.22 in the same quarter last year, which indicates a positive year over year growth rate of 40.9%. The company is expected to issue its next earnings report on Thursday, October 26th.

On average, analysts expect that Commercial Metals Company will report full-year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.98. For the next financial year, analysts anticipate that the firm will post earnings of $1.54 per share, with EPS estimates ranging from $1.27 to $1.77. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Commercial Metals Company.

Commercial Metals Company (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.11. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.34 billion. Commercial Metals Company had a return on equity of 7.84% and a net margin of 1.57%. Commercial Metals Company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS.

Several research analysts have issued reports on the company. Credit Suisse Group upgraded Commercial Metals Company from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $19.00 to $24.00 in a research report on Tuesday, March 28th. Deutsche Bank AG dropped their target price on Commercial Metals Company to $26.00 and set a “buy” rating for the company in a research report on Tuesday, March 21st. Jefferies Group LLC restated a “hold” rating and set a $19.00 target price on shares of Commercial Metals Company in a research report on Wednesday, May 24th. Bank of America Corporation lowered Commercial Metals Company from a “buy” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $19.00 in a research report on Thursday, June 8th. Finally, Citigroup Inc. upgraded Commercial Metals Company from a “neutral” rating to a “buy” rating and boosted their target price for the company from $21.00 to $22.00 in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Commercial Metals Company has an average rating of “Hold” and an average target price of $22.00.

Commercial Metals Company (CMC) traded down 1.38% during midday trading on Tuesday, reaching $19.23. The company’s stock had a trading volume of 2,191,044 shares. The firm has a market cap of $2.23 billion, a P/E ratio of 29.72 and a beta of 1.23. Commercial Metals Company has a 52-week low of $14.58 and a 52-week high of $24.64. The firm has a 50 day moving average of $18.57 and a 200 day moving average of $19.82. Commercial Metals Company also saw unusually large options trading on Wednesday. Stock traders bought 10,197 call options on the stock. This represents an increase of approximately 670% compared to the average daily volume of 1,325 call options.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, July 3rd. Commercial Metals Company’s dividend payout ratio (DPR) is presently 73.85%.

A number of large investors have recently bought and sold shares of CMC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Commercial Metals Company by 67.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock valued at $102,000 after buying an additional 2,142 shares during the last quarter. Elkfork Partners LLC acquired a new stake in Commercial Metals Company during the fourth quarter valued at approximately $105,000. Point72 Asia Hong Kong Ltd raised its stake in Commercial Metals Company by 367.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock valued at $126,000 after buying an additional 5,182 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Commercial Metals Company by 13.6% in the first quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $134,000 after buying an additional 840 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Commercial Metals Company by 13.6% in the first quarter. Glen Harbor Capital Management LLC now owns 8,500 shares of the basic materials company’s stock valued at $162,000 after buying an additional 1,020 shares during the last quarter. 89.75% of the stock is currently owned by institutional investors.

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About Commercial Metals Company

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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