Commercial Metals (NYSE:CMC) – Equities research analysts at Jefferies Group upped their Q2 2018 earnings estimates for shares of Commercial Metals in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $0.30 per share for the quarter, up from their prior forecast of $0.26. Jefferies Group has a “Buy” rating and a $24.00 price target on the stock. Jefferies Group also issued estimates for Commercial Metals’ Q3 2018 earnings at $0.61 EPS and FY2019 earnings at $2.23 EPS.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.14. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS.
Commercial Metals (NYSE:CMC) traded up $0.48 during trading on Wednesday, reaching $25.76. The company’s stock had a trading volume of 688,810 shares, compared to its average volume of 3,737,300. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. The company has a market cap of $2,920.00, a PE ratio of 47.69 and a beta of 1.26. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $25.51.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.86%. Commercial Metals’s payout ratio is 88.89%.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Commercial Metals by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 12,837,096 shares of the basic materials company’s stock worth $249,424,000 after acquiring an additional 264,915 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Commercial Metals by 13.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock worth $87,673,000 after acquiring an additional 526,185 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Commercial Metals by 0.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock worth $85,090,000 after acquiring an additional 35,385 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in Commercial Metals by 58.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock worth $57,435,000 after acquiring an additional 1,117,876 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Commercial Metals by 7.4% in the 2nd quarter. Northern Trust Corp now owns 2,858,394 shares of the basic materials company’s stock worth $55,539,000 after acquiring an additional 196,113 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.
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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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