Commercial Metals (NYSE:CMC) Posts Earnings Results

Commercial Metals (NYSE:CMC) issued its quarterly earnings results on Thursday. The basic materials company reported $0.26 earnings per share 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 company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS.

Commercial Metals Stock Down 1.5 %

NYSE:CMC opened at $46.67 on Friday. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. Commercial Metals has a one year low of $42.62 and a one year high of $64.53. The stock has a 50-day simple moving average of $48.86 and a 200 day simple moving average of $52.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76.

Commercial Metals Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley cut their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Jefferies Financial Group cut their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, BMO Capital Markets lowered their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.