Equities analysts predict that Commercial Metals (NYSE:CMC) will post earnings of $0.72 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Commercial Metals’ earnings. The highest EPS estimate is $0.80 and the lowest is $0.62. Commercial Metals posted earnings per share of $0.51 in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.2%. The company is expected to report its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Commercial Metals will report full-year earnings of $2.03 per share for the current year, with EPS estimates ranging from $1.93 to $2.11. For the next year, analysts anticipate that the firm will report earnings of $2.05 per share, with EPS estimates ranging from $1.71 to $2.66. Zacks’ EPS calculations are an average based on a survey of research firms that follow Commercial Metals.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 20th. The basic materials company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Commercial Metals had a net margin of 2.92% and a return on equity of 14.34%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s revenue was up 33.3% on a year-over-year basis.

CMC has been the topic of several research reports. Citigroup set a $16.00 price objective on shares of Commercial Metals and gave the stock a “hold” rating in a report on Tuesday, June 11th. TheStreet upgraded shares of Commercial Metals from a “c+” rating to a “b” rating in a report on Tuesday, July 16th. Bank of America reiterated an “underperform” rating and issued a $18.00 target price on shares of Commercial Metals in a report on Friday, May 31st. Deutsche Bank downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Thursday, July 11th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.10.

Hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new stake in Commercial Metals during the second quarter worth about $187,000. Rhumbline Advisers increased its holdings in Commercial Metals by 1.2% during the first quarter. Rhumbline Advisers now owns 359,510 shares of the basic materials company’s stock worth $6,140,000 after buying an additional 4,131 shares during the last quarter. Rothschild & Co. Asset Management US Inc. increased its holdings in Commercial Metals by 3.2% during the first quarter. Rothschild & Co. Asset Management US Inc. now owns 880,264 shares of the basic materials company’s stock worth $15,035,000 after buying an additional 27,597 shares during the last quarter. First Dallas Securities Inc. increased its holdings in Commercial Metals by 58.1% during the first quarter. First Dallas Securities Inc. now owns 304,706 shares of the basic materials company’s stock worth $5,204,000 after buying an additional 111,958 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Commercial Metals by 0.6% during the first quarter. New York State Common Retirement Fund now owns 250,986 shares of the basic materials company’s stock worth $4,287,000 after buying an additional 1,385 shares during the last quarter. Institutional investors own 94.92% of the company’s stock.

CMC traded up $0.07 during trading on Friday, hitting $18.59. 2,039,100 shares of the company’s stock were exchanged, compared to its average volume of 1,460,531. The company has a quick ratio of 1.86, a current ratio of 3.00 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $16.34 and its two-hundred day moving average is $16.55. Commercial Metals has a fifty-two week low of $13.27 and a fifty-two week high of $21.90. The stock has a market cap of $2.18 billion, a P/E ratio of 12.48, a PEG ratio of 2.12 and a beta of 1.74.

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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