Brokers Set Expectations for Commercial Metals’ Q1 2019 Earnings (CMC)

Commercial Metals (NYSE:CMC) – Analysts at Seaport Global Securities dropped their Q1 2019 EPS estimates for shares of Commercial Metals in a report issued on Tuesday, October 30th. Seaport Global Securities analyst D. Hernandez now anticipates that the basic materials company will post earnings of $0.36 per share for the quarter, down from their previous estimate of $0.61. Seaport Global Securities has a “Neutral” rating and a $20.00 price objective on the stock. Seaport Global Securities also issued estimates for Commercial Metals’ Q1 2020 earnings at $0.48 EPS.

A number of other research analysts also recently commented on the company. ValuEngine upgraded Commercial Metals from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup dropped their price objective on Commercial Metals from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday. Macquarie set a $23.00 price objective on Commercial Metals and gave the company a “hold” rating in a report on Friday, October 26th. Deutsche Bank downgraded Commercial Metals to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Goldman Sachs Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 price target on the stock in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Commercial Metals currently has an average rating of “Hold” and a consensus target price of $23.75.

CMC opened at $19.06 on Thursday. Commercial Metals has a one year low of $17.26 and a one year high of $26.72. The stock has a market capitalization of $2.12 billion, a PE ratio of 12.79 and a beta of 1.32. The company has a current ratio of 3.83, a quick ratio of 2.75 and a debt-to-equity ratio of 0.76.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. Commercial Metals had a return on equity of 12.11% and a net margin of 2.88%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion.

A number of large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in Commercial Metals by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 81,233 shares of the basic materials company’s stock worth $1,715,000 after buying an additional 2,354 shares during the last quarter. OppenheimerFunds Inc. grew its stake in Commercial Metals by 4.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 74,946 shares of the basic materials company’s stock worth $1,583,000 after buying an additional 3,041 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Commercial Metals by 3.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 100,336 shares of the basic materials company’s stock worth $2,118,000 after buying an additional 3,279 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Commercial Metals by 79.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock worth $182,000 after buying an additional 3,822 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in Commercial Metals by 24.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 21,397 shares of the basic materials company’s stock worth $452,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 89.28% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 6th. This represents a $0.48 dividend on an annualized basis and a yield of 2.52%. Commercial Metals’s dividend payout ratio is presently 32.21%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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