Commercial Metals (CMC) to Release Quarterly Earnings on Thursday

Posted by on Jun 15th, 2023

Commercial Metals (NYSE:CMC – Get Rating) will release its earnings data before the market opens on Thursday, June 22nd. Analysts expect Commercial Metals to post earnings of $1.84 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Commercial Metals (NYSE:CMC – Get Rating) last announced its quarterly earnings results on Thursday, March 23rd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.09). The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.94 billion. Commercial Metals had a return on equity of 30.52% and a net margin of 11.37%. Commercial Metals’s revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $1.53 EPS. On average, analysts expect Commercial Metals to post $8 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $47.67 on Thursday. The firm has a market cap of $5.58 billion, a PE ratio of 5.51 and a beta of 1.26. Commercial Metals has a 12-month low of $31.47 and a 12-month high of $58.09. The company has a quick ratio of 2.00, a current ratio of 3.07 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $45.80 and its two-hundred day simple moving average is $49.11.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 12th. Stockholders of record on Monday, April 3rd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, March 31st. Commercial Metals’s payout ratio is 7.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CMC shares. Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $56.00 to $60.00 in a research note on Wednesday, April 5th. StockNews.com started coverage on shares of Commercial Metals in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Citigroup lifted their target price on shares of Commercial Metals from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Neuberger Berman Group LLC purchased a new position in Commercial Metals during the 4th quarter valued at about $253,000. Atria Wealth Solutions Inc. purchased a new position in Commercial Metals in the fourth quarter worth about $234,000. Cetera Advisor Networks LLC purchased a new position in Commercial Metals in the second quarter worth about $219,000. Ethic Inc. purchased a new position in Commercial Metals in the first quarter worth about $212,000. Finally, Savant Capital LLC purchased a new position in Commercial Metals in the fourth quarter worth about $204,000. 84.30% of the stock is owned by hedge funds and other institutional investors.

About Commercial Metals

(Get Rating)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

Featured Articles

Earnings History for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.