Analysts expect Commercial Metals Company (NYSE:CMC) to report earnings per share (EPS) of $0.23 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Commercial Metals’ earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.35. Commercial Metals posted earnings of $0.22 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Commercial Metals will report full year earnings of $0.87 per share for the current year, with EPS estimates ranging from $0.83 to $0.92. For the next fiscal year, analysts anticipate that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.03 to $1.77. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Commercial Metals.
Several equities research analysts have recently weighed in on the stock. Citigroup Inc. upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, June 13th. BidaskClub upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Bank of America Corporation restated a “neutral” rating and issued a $20.00 price target (up from $19.00) on shares of Commercial Metals in a report on Sunday, June 25th. Clarkson Capital restated a “sell” rating and issued a $16.00 price target on shares of Commercial Metals in a report on Tuesday, August 15th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $19.00 price target on shares of Commercial Metals in a report on Wednesday, June 28th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $20.63.
Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Commercial Metals by 67.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 2,142 shares during the period. Point72 Asia Hong Kong Ltd grew its holdings in Commercial Metals by 367.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 5,182 shares during the period. Riverhead Capital Management LLC grew its holdings in Commercial Metals by 56.6% in the second quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 2,492 shares during the period. LS Investment Advisors LLC grew its holdings in Commercial Metals by 20.2% in the second quarter. LS Investment Advisors LLC now owns 9,197 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 1,548 shares during the period. Finally, Cim Investment Mangement Inc. acquired a new stake in Commercial Metals in the second quarter worth $202,000. Institutional investors and hedge funds own 90.64% of the company’s stock.
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Commercial Metals (CMC) opened at 18.80 on Wednesday. The stock’s 50 day moving average is $18.45 and its 200-day moving average is $18.66. The company has a market capitalization of $2.18 billion, a PE ratio of 29.06 and a beta of 1.22. Commercial Metals has a 12 month low of $15.08 and a 12 month high of $24.64.
Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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