Commercial Metals (NYSE:CMC) Posts Earnings Results, Misses Estimates By $0.12 EPS

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 $0.38 by ($0.12), Zacks reports. The company had revenue of $1.75 billion during 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%. Commercial Metals’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share.

Commercial Metals Price Performance

Shares of Commercial Metals stock traded down $0.18 on Thursday, reaching $46.68. The stock had a trading volume of 246,944 shares, compared to its average volume of 862,034. The business’s 50 day moving average is $48.88 and its two-hundred day moving average is $52.81. The company has a market cap of $5.31 billion, a P/E ratio of 42.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1 year low of $42.62 and a 1 year high of $64.53.

Commercial Metals Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group cut their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. BMO Capital Markets cut their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. Finally, Morgan Stanley cut their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.83.

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.