Commercial Metals (NYSE:CMC) Announces Earnings Results

Commercial Metals (NYSE:CMC) announced its quarterly earnings results on Thursday. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12), Zacks reports. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS.

Commercial Metals Stock Performance

Shares of NYSE:CMC traded down $0.18 during midday trading on Thursday, reaching $46.68. The company had a trading volume of 246,944 shares, compared to its average volume of 862,034. The company’s 50 day moving average price is $48.88 and its 200 day moving average price is $52.81. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.31 billion, a P/E ratio of 42.06, 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.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.54%. Commercial Metals’s dividend payout ratio (DPR) is currently 64.86%.

Analyst Ratings Changes

A number of analysts have commented on CMC shares. Jefferies Financial Group decreased their price target on shares of 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 raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $54.00 in a report on Friday, January 10th. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. BMO Capital Markets cut their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and an average 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.