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.
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