Commercial Metals (CMC) Projected to Post Earnings on Thursday

Commercial Metals (NYSE:CMC) is projected to announce its earnings results before the market opens on Thursday, March 20th. Analysts expect the company to announce earnings of $0.38 per share and revenue of $1.73 billion for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.49 earnings per share. 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 opened at $46.30 on Wednesday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $48.89 and a 200-day moving average price of $52.85. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were given a $0.18 dividend. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.56%. Commercial Metals’s dividend payout ratio (DPR) is currently 64.86%.

Analyst Ratings Changes

CMC has been the subject of a number of analyst reports. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Jefferies Financial Group cut their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley cut their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. BMO Capital Markets cut their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective for the company. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.83.

Commercial Metals Company Profile

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.