Commercial Metals Company (CMC) Posts Earnings Results, Misses Estimates By $0.13 EPS

Commercial Metals Company (CSE:CMC) issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.13), Briefing.com reports. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Commercial Metals had a negative net margin of 4.56% and a negative return on equity of 12.49%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS.

Shares of Commercial Metals (CMC) traded up $0.02 during trading hours on Monday, hitting $18.63. 1,769,200 shares of the company were exchanged, compared to its average volume of 2,099,725. The company has a current ratio of 2.82, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58. Commercial Metals has a 1 year low of $17.05 and a 1 year high of $24.64. The company has a market cap of $2,158.10, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.26.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Tuesday, November 7th. Commercial Metals’s payout ratio is 120.00%.

A number of brokerages have recently weighed in on CMC. Jefferies Group LLC cut their price objective on Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 30th. Zacks Investment Research lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Citigroup Inc. cut their price objective on Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Macquarie began coverage on Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price objective for the company. Finally, Bank of America Corporation restated a “neutral” rating and set a $21.00 price objective (up previously from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Commercial Metals currently has an average rating of “Hold” and an average target price of $21.50.

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Commercial Metals Company Profile

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.

Earnings History for Commercial Metals (CSE:CMC)

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