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

Commercial Metals (NYSE:CMC) issued 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 analysts’ expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share.

Commercial Metals Trading Down 1.5 %

Shares of Commercial Metals stock opened at $46.67 on Friday. Commercial Metals has a fifty-two week low of $42.62 and a fifty-two week high of $64.53. The firm has a market cap of $5.30 billion, a PE ratio of 42.04, a P/E/G ratio of 2.62 and a beta of 1.17. The business’s fifty day moving average is $48.86 and its two-hundred day moving average is $52.72. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s dividend payout ratio is presently 64.86%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CMC. Jefferies Financial Group cut their target price 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. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $54.00 in a report on Friday, January 10th. BMO Capital Markets lowered their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Finally, Morgan Stanley lowered their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Commercial Metals presently has an average rating of “Hold” and a consensus target price of $61.17.

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.