Commercial Metals (NYSE:CMC) Posts Earnings Results, Misses Estimates By $0.05 EPS

Commercial Metals (NYSE:CMC) released its earnings results on Thursday. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05), Zacks reports. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share.

Commercial Metals Stock Performance

NYSE CMC opened at $47.34 on Friday. The firm has a market cap of $5.38 billion, a P/E ratio of 42.65, a P/E/G ratio of 2.62 and a beta of 1.17. Commercial Metals has a 52-week low of $42.62 and a 52-week high of $64.53. The business’s 50-day moving average price is $48.87 and its 200 day moving average price is $52.77. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.52%. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMC shares. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. BMO Capital Markets dropped their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $56.00 to $54.00 in a report on Friday, January 10th. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.83.

About Commercial Metals

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.