Analysts Anticipate Commercial Metals (CMC) to Post $0.61 EPS

Analysts forecast that Commercial Metals (NYSE:CMC) will announce earnings per share of $0.61 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Commercial Metals’ earnings. The highest EPS estimate is $0.75 and the lowest is $0.52. Commercial Metals posted earnings of $0.41 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 48.8%. The firm is expected to report its next quarterly earnings report on Thursday, June 20th.

On average, analysts expect that Commercial Metals will report full year earnings of $1.90 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $2.20. For the next fiscal year, analysts anticipate that the company will post earnings of $2.13 per share, with EPS estimates ranging from $1.75 to $2.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Commercial Metals.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, March 21st. The basic materials company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. Commercial Metals’s revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS.

Several brokerages have recently commented on CMC. Cowen reissued a “market perform” rating and issued a $18.50 target price (up from $17.00) on shares of Commercial Metals in a report on Tuesday, April 9th. ValuEngine raised Commercial Metals from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 30th. Macquarie raised Commercial Metals from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $15.23 to $17.37 in a report on Friday, March 22nd. Citigroup set a $18.00 price objective on Commercial Metals and gave the stock a “hold” rating in a report on Tuesday, January 8th. Finally, Seaport Global Securities reaffirmed a “hold” rating on shares of Commercial Metals in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $20.23.

Shares of CMC traded up $0.45 on Tuesday, hitting $17.78. The company’s stock had a trading volume of 1,355,580 shares, compared to its average volume of 1,541,753. The company has a market capitalization of $2.07 billion, a P/E ratio of 11.93, a PEG ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.75 and a quick ratio of 1.60. Commercial Metals has a fifty-two week low of $15.23 and a fifty-two week high of $24.95.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, April 4th. Commercial Metals’s dividend payout ratio is 32.21%.

A number of large investors have recently bought and sold shares of CMC. Norges Bank acquired a new position in Commercial Metals during the 4th quarter worth $20,566,000. Prudential Financial Inc. raised its position in shares of Commercial Metals by 233.4% during the 4th quarter. Prudential Financial Inc. now owns 1,715,532 shares of the basic materials company’s stock valued at $27,483,000 after acquiring an additional 1,200,911 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in shares of Commercial Metals by 40.9% during the 1st quarter. Deprince Race & Zollo Inc. now owns 2,544,127 shares of the basic materials company’s stock valued at $43,454,000 after acquiring an additional 738,399 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Commercial Metals by 1,502.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 739,003 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 692,873 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its position in shares of Commercial Metals by 99.3% during the 4th quarter. Ceredex Value Advisors LLC now owns 827,357 shares of the basic materials company’s stock valued at $13,254,000 after acquiring an additional 412,291 shares during the last quarter. 88.79% of the stock is currently owned by hedge funds and other institutional investors.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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