Commercial Metals (NYSE:CMC) Issues Earnings Results, Beats Estimates By $0.05 EPS

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

Shares of NYSE:CMC traded up $1.21 during trading 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. The company has a market capitalization of $2.75 billion, a PE ratio of 9.84, a P/E/G 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. Commercial Metals has a fifty-two week low of $10.76 and a fifty-two week high of $24.16.

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

CMC has been the topic of several analyst reports. Citigroup increased their price target on Commercial Metals from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, October 16th. 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 report on Monday, September 28th. BidaskClub raised Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 6th. Smith Barney Citigroup increased their price target on Commercial Metals from $21.00 to $22.00 in a research report on Tuesday. Finally, BNP Paribas downgraded 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and an average price target of $22.44.

In related news, COO Tracy L. Porter sold 51,918 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were 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 directly owns 10 shares of the company’s stock, valued at $208.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Smith sold 82,082 shares of the business’s stock in a transaction on Wednesday, January 6th. The shares were sold at an average price of $22.87, for a total transaction of $1,877,215.34. Following the completion of the sale, the chief executive officer now directly owns 769,105 shares of the company’s stock, valued at $17,589,431.35. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

About Commercial Metals

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.

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Earnings History for Commercial Metals (NYSE:CMC)

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