Commercial Metals to Post Q2 2019 Earnings of $0.43 Per Share, Jefferies Financial Group Forecasts (CMC)

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Commercial Metals (NYSE:CMC) – Equities researchers at Jefferies Financial Group boosted their Q2 2019 earnings per share (EPS) estimates for Commercial Metals in a research report issued on Tuesday, January 22nd. Jefferies Financial Group analyst S. Rosenfeld now expects that the basic materials company will post earnings of $0.43 per share for the quarter, up from their previous forecast of $0.37. Jefferies Financial Group also issued estimates for Commercial Metals’ Q4 2019 earnings at $0.60 EPS.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 7th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. Commercial Metals had a net margin of 2.51% and a return on equity of 12.32%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share.

Other research analysts also recently issued reports about the stock. Longbow Research set a $25.00 target price on shares of Commercial Metals and gave the company a “buy” rating in a research report on Monday, December 3rd. Deutsche Bank downgraded shares of Commercial Metals to a “buy” rating in a research report on Tuesday, October 2nd. Goldman Sachs Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Monday, January 14th. Macquarie set a $23.00 target price on shares of Commercial Metals and gave the company a “hold” rating in a research report on Friday, October 26th. Finally, Citigroup boosted their target price on shares of Commercial Metals from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.11.

NYSE CMC opened at $16.44 on Wednesday. The firm has a market cap of $2.00 billion, a P/E ratio of 11.03 and a beta of 1.32. Commercial Metals has a 1 year low of $15.23 and a 1 year high of $26.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.68 and a quick ratio of 1.58.

Several institutional investors have recently modified their holdings of CMC. Man Group plc raised its position in shares of Commercial Metals by 1,141.2% in the third quarter. Man Group plc now owns 934,258 shares of the basic materials company’s stock worth $19,171,000 after acquiring an additional 858,985 shares during the period. Advisors Asset Management Inc. raised its position in shares of Commercial Metals by 680.3% in the second quarter. Advisors Asset Management Inc. now owns 468,171 shares of the basic materials company’s stock worth $1,030,000 after acquiring an additional 408,175 shares during the period. JPMorgan Chase & Co. raised its position in shares of Commercial Metals by 50.8% in the third quarter. JPMorgan Chase & Co. now owns 749,845 shares of the basic materials company’s stock worth $15,387,000 after acquiring an additional 252,682 shares during the period. Hodges Capital Management Inc. raised its position in shares of Commercial Metals by 11.0% in the third quarter. Hodges Capital Management Inc. now owns 2,190,640 shares of the basic materials company’s stock worth $44,952,000 after acquiring an additional 216,384 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Commercial Metals by 27.8% in the second quarter. Bank of America Corp DE now owns 873,560 shares of the basic materials company’s stock worth $18,441,000 after acquiring an additional 189,826 shares during the period. Institutional investors and hedge funds own 87.00% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, January 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.92%. Commercial Metals’s dividend payout ratio (DPR) is currently 32.21%.

Commercial Metals Company Profile

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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