Commercial Metals (NYSE:CMC) Issues Earnings Results, Hits Expectations

Commercial Metals (NYSE:CMC) posted its quarterly earnings results on Monday. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78, RTT News reports. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 earnings per share.

Commercial Metals Stock Down 3.3 %

Commercial Metals stock opened at $48.77 on Wednesday. The company’s 50-day moving average is $56.87 and its 200-day moving average is $54.97. The firm has a market capitalization of $5.56 billion, a PE ratio of 11.78, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a fifty-two week low of $47.42 and a fifty-two week high of $64.53.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.48%. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CMC. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. Morgan Stanley assumed coverage on Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price target on the stock. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. 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 report on Monday. Finally, BMO Capital Markets reduced 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and an average target price of $64.17.

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.