Commercial Metals (NYSE:CMC) Issues Quarterly Earnings Results


Share on StockTwits

Commercial Metals (NYSE:CMC) issued its quarterly earnings results on Sunday. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05, MarketWatch Earnings reports. Commercial Metals had a return on equity of 17.74% and a net margin of 5.10%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year.

Shares of Commercial Metals stock traded up $1.21 during trading hours on Tuesday, hitting $22.87. The company’s stock had a trading volume of 72,047 shares, compared to its average volume of 1,184,147. The business has a 50 day moving average price of $20.60 and a two-hundred day moving average price of $20.78. Commercial Metals has a 12-month low of $10.76 and a 12-month high of $24.16. The company has a market cap of $2.75 billion, a PE ratio of 9.84, a PEG ratio of 3.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.13 and a current ratio of 2.97.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 4th. Stockholders of record on Thursday, January 21st will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.10%. Commercial Metals’s payout ratio is 18.18%.

Several equities analysts have issued reports on CMC shares. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research note on Monday, September 28th. BidaskClub raised Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 6th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research report on Thursday, December 3rd. ValuEngine raised Commercial Metals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 6th. Finally, Citigroup increased their price objective on Commercial Metals from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Commercial Metals presently has a consensus rating of “Hold” and an average target price of $22.44.

In related news, CEO Barbara Smith sold 82,082 shares of the business’s stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $22.87, for a total value of $1,877,215.34. Following the sale, the chief executive officer now directly owns 769,105 shares in the company, valued at $17,589,431.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Tracy L. Porter sold 51,918 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $20.81, for a total value of $1,080,413.58. Following the completion of the sale, the chief operating officer now owns 10 shares in the company, valued at $208.10. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

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, 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.

Read More: Real Estate Investment Trust (REIT) ETF

Earnings History for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.