Analysts Issue Forecasts for Commercial Metals’ Q4 2024 Earnings (NYSE:CMC)

Commercial Metals (NYSE:CMC) – Analysts at Zacks Research issued their Q4 2024 earnings per share (EPS) estimates for shares of Commercial Metals in a research report issued to clients and investors on Monday, October 7th. Zacks Research analyst S. Deb anticipates that the basic materials company will earn $0.99 per share for the quarter. The consensus estimate for Commercial Metals’ current full-year earnings is $4.26 per share. Zacks Research also issued estimates for Commercial Metals’ Q2 2025 earnings at $1.11 EPS, Q4 2025 earnings at $1.29 EPS and FY2025 earnings at $5.04 EPS.

CMC has been the subject of several other reports. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Bank of America lowered their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target for the company. Finally, StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.40.

Commercial Metals Price Performance

NYSE:CMC opened at $52.96 on Thursday. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $52.83 and a 200 day simple moving average of $54.62. The stock has a market capitalization of $6.09 billion, a PE ratio of 11.03 and a beta of 1.14. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26.

Institutional Investors Weigh In On Commercial Metals

Several hedge funds have recently modified their holdings of the company. Inspire Investing LLC raised its position in Commercial Metals by 17.3% in the third quarter. Inspire Investing LLC now owns 7,496 shares of the basic materials company’s stock valued at $412,000 after purchasing an additional 1,104 shares during the last quarter. Covea Finance raised its holdings in Commercial Metals by 16.2% in the 3rd quarter. Covea Finance now owns 43,000 shares of the basic materials company’s stock valued at $2,363,000 after buying an additional 6,000 shares during the last quarter. Unison Advisors LLC acquired a new stake in Commercial Metals during the 3rd quarter worth approximately $753,000. Diversified Trust Co grew its holdings in Commercial Metals by 4.6% during the 3rd quarter. Diversified Trust Co now owns 24,990 shares of the basic materials company’s stock worth $1,373,000 after acquiring an additional 1,107 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Commercial Metals by 34.3% during the third quarter. Handelsbanken Fonder AB now owns 28,200 shares of the basic materials company’s stock valued at $1,550,000 after acquiring an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

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, and internationally. It operates through two segments, North America and Europe. 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.