Commercial Metals Forecasted to Earn Q4 2024 Earnings of $0.99 Per Share (NYSE:CMC)

Commercial Metals (NYSE:CMC) – Zacks Research issued their Q4 2024 earnings estimates for shares of Commercial Metals in a research report issued on Monday, October 7th. Zacks Research analyst S. Deb expects that the basic materials company will post earnings per share of $0.99 for the quarter. The consensus estimate for Commercial Metals’ current full-year earnings is $4.37 per share. Zacks Research also issued estimates for Commercial Metals’ Q2 2025 earnings at $1.11 EPS, Q4 2025 earnings at $1.29 EPS and FY2025 earnings at $5.04 EPS.

Several other research firms also recently weighed in on CMC. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Jefferies Financial Group assumed coverage on Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price on the stock. Bank of America lowered their price target on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Finally, Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.40.

Commercial Metals Price Performance

Shares of CMC opened at $53.51 on Thursday. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $61.26. The firm’s 50-day simple moving average is $52.81 and its two-hundred day simple moving average is $54.59. The stock has a market cap of $6.15 billion, a PE ratio of 11.15 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24.

Institutional Trading of Commercial Metals

A number of institutional investors have recently made changes to their positions in CMC. Cim LLC bought a new position in Commercial Metals during the fourth quarter valued at approximately $2,120,000. Russell Investments Group Ltd. boosted its stake in shares of Commercial Metals by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after buying an additional 20,751 shares during the last quarter. Boston Partners grew its holdings in shares of Commercial Metals by 23,390.7% in the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after acquiring an additional 3,063,241 shares during the period. BNP Paribas Financial Markets increased its position in Commercial Metals by 61.9% during the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock valued at $3,941,000 after acquiring an additional 25,642 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Commercial Metals by 388.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after acquiring an additional 237,477 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.