Zacks: Analysts Expect Commercial Metals (NYSE:CMC) to Announce $1.47 Earnings Per Share

Analysts expect that Commercial Metals (NYSE:CMC – Get Rating) will report earnings of $1.47 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Commercial Metals’ earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $1.92. Commercial Metals reported earnings per share of $1.04 in the same quarter last year, which indicates a positive year over year growth rate of 41.3%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Commercial Metals will report full-year earnings of $7.58 per share for the current year, with EPS estimates ranging from $6.40 to $8.75. For the next fiscal year, analysts forecast that the firm will report earnings of $4.67 per share, with EPS estimates ranging from $3.25 to $6.71. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Commercial Metals.

Commercial Metals (NYSE:CMC – Get Rating) last posted its earnings results on Thursday, March 17th. The basic materials company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.45. Commercial Metals had a net margin of 11.43% and a return on equity of 27.25%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company posted $0.66 EPS. The company’s quarterly revenue was up 37.4% compared to the same quarter last year.

CMC has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Commercial Metals from $47.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. Exane BNP Paribas raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Friday, January 21st. KeyCorp lifted their price target on shares of Commercial Metals from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 16th. BNP Paribas raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Friday, January 21st. Finally, BMO Capital Markets raised their price objective on shares of Commercial Metals from $40.00 to $45.00 and gave the company a “market perform” rating in a research note on Friday, March 18th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $41.20.

Shares of NYSE CMC opened at $44.32 on Friday. Commercial Metals has a 1 year low of $27.69 and a 1 year high of $44.62. The stock has a market cap of $5.38 billion, a P/E ratio of 6.05 and a beta of 1.20. The firm has a 50-day moving average of $39.51 and a 200 day moving average of $35.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.23 and a quick ratio of 2.85.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 13th. Stockholders of record on Wednesday, March 30th were paid a $0.14 dividend. The ex-dividend date was Tuesday, March 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.26%. Commercial Metals’s dividend payout ratio is presently 7.64%.

In other news, CEO Barbara Smith sold 4,101 shares of Commercial Metals stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $43.45, for a total value of $178,188.45. Following the completion of the sale, the chief executive officer now directly owns 533,785 shares in the company, valued at $23,192,958.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI bought a new stake in shares of Commercial Metals in the fourth quarter worth approximately $29,000. Montag A & Associates Inc. purchased a new position in shares of Commercial Metals in the fourth quarter worth approximately $36,000. Exchange Traded Concepts LLC boosted its holdings in shares of Commercial Metals by 127.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,135 shares of the basic materials company’s stock worth $41,000 after buying an additional 636 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Commercial Metals in the third quarter worth approximately $44,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Commercial Metals in the fourth quarter worth approximately $154,000. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Commercial Metals Company Profile (Get Rating)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, 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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