Commercial Metals (CMC) Expected to Announce Earnings on Thursday

Commercial Metals (NYSE:CMC) is anticipated to post its quarterly earnings results before the market opens on Thursday, March 20th. Analysts expect Commercial Metals to post earnings of $0.38 per share and revenue of $1.73 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 EPS. On average, analysts expect Commercial Metals to post $3 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Commercial Metals Price Performance

CMC stock opened at $46.14 on Tuesday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $5.24 billion, a PE ratio of 41.56, a P/E/G ratio of 2.62 and a beta of 1.17. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The business’s fifty day moving average price is $48.94 and its 200 day moving average price is $52.90.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.56%. Commercial Metals’s dividend payout ratio is presently 64.86%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CMC. Jefferies Financial Group cut their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley cut their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, BMO Capital Markets cut their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.83.

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, 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.