Wall Street analysts forecast that Commercial Metals (NYSE:CMC) will post $0.26 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Commercial Metals’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.20. Commercial Metals reported earnings of $0.25 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 4%. The business is expected to announce its next earnings results before the market opens on Thursday, March 22nd.
On average, analysts expect that Commercial Metals will report full-year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from $1.09 to $1.82. For the next financial year, analysts anticipate that the firm will report earnings of $2.16 per share, with EPS estimates ranging from $1.55 to $3.04. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Commercial Metals.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year.
In other Commercial Metals news, VP Adam R. Hickey sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $25.85, for a total value of $517,000.00. Following the completion of the sale, the vice president now directly owns 15,632 shares in the company, valued at $404,087.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy L. Porter sold 13,601 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the sale, the executive vice president now owns 10 shares of the company’s stock, valued at $250.40. The disclosure for this sale can be found here. Insiders sold 60,536 shares of company stock valued at $1,541,915 over the last 90 days. 1.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Commercial Metals by 2.3% in the fourth quarter. BlackRock Inc. now owns 14,686,246 shares of the basic materials company’s stock worth $313,111,000 after purchasing an additional 333,388 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Commercial Metals by 0.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock valued at $85,090,000 after acquiring an additional 35,385 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Commercial Metals by 9.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 3,293,028 shares of the basic materials company’s stock valued at $70,207,000 after acquiring an additional 274,883 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Commercial Metals by 36.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,035,305 shares of the basic materials company’s stock valued at $38,732,000 after acquiring an additional 541,829 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Commercial Metals during the 4th quarter valued at $34,374,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.
Shares of Commercial Metals (NYSE CMC) traded up $0.28 during mid-day trading on Friday, reaching $25.87. The company had a trading volume of 246,833 shares, compared to its average volume of 1,923,416. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $26.72. The company has a market cap of $2,956.61, a price-to-earnings ratio of 26.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.20 and a quick ratio of 2.07.
Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.