Commercial Metals (NYSE:CMC) – Equities research analysts at KeyCorp increased their Q3 2019 earnings estimates for Commercial Metals in a research report issued to clients and investors on Tuesday, May 21st. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $0.65 per share for the quarter, up from their prior forecast of $0.57. KeyCorp also issued estimates for Commercial Metals’ FY2019 earnings at $1.95 EPS.

Other research analysts have also recently issued research reports about the company. Cowen reiterated a “market perform” rating and issued a $18.50 price target (up previously from $17.00) on shares of Commercial Metals in a research note on Tuesday, April 9th. Macquarie upgraded Commercial Metals from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $15.23 to $17.37 in a research note on Friday, March 22nd. Finally, ValuEngine upgraded Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Commercial Metals has a consensus rating of “Hold” and an average target price of $20.23.

NYSE:CMC opened at $14.66 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.60 and a current ratio of 2.75. Commercial Metals has a one year low of $14.21 and a one year high of $24.95. The stock has a market capitalization of $1.80 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.85 and a beta of 1.30.

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

Institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its holdings in Commercial Metals by 1,502.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 739,003 shares of the basic materials company’s stock valued at $46,000 after buying an additional 692,873 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Commercial Metals in the fourth quarter valued at about $47,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Commercial Metals in the fourth quarter valued at about $48,000. Cullen Frost Bankers Inc. bought a new stake in Commercial Metals in the first quarter valued at about $51,000. Finally, Macquarie Group Ltd. bought a new stake in Commercial Metals in the fourth quarter valued at about $100,000. 87.84% of the stock is 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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Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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