Zacks Research Cuts Earnings Estimates for Commercial Metals

Commercial Metals (NYSE:CMC) – Analysts at Zacks Research lowered their FY2027 EPS estimates for Commercial Metals in a note issued to investors on Thursday, December 19th. Zacks Research analyst S. Deb now anticipates that the basic materials company will post earnings per share of $5.47 for the year, down from their prior estimate of $5.56. The consensus estimate for Commercial Metals’ current full-year earnings is $4.26 per share.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Morgan Stanley assumed coverage on Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective for the company. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.33.

Commercial Metals Trading Up 1.4 %

NYSE:CMC opened at $50.50 on Monday. The company has a market cap of $5.76 billion, a PE ratio of 12.20, a P/E/G ratio of 2.74 and a beta of 1.15. The business’s 50 day moving average is $57.70 and its two-hundred day moving average is $55.10. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $47.42 and a 52 week high of $64.53.

Hedge Funds Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMC. nVerses Capital LLC acquired a new position in Commercial Metals in the 3rd quarter valued at approximately $66,000. Archer Investment Corp purchased a new position in Commercial Metals in the second quarter valued at about $77,000. KBC Group NV increased its position in Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 425 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Commercial Metals during the 2nd quarter valued at about $195,000. Finally, Highland Capital Management LLC bought a new stake in shares of Commercial Metals in the 3rd quarter valued at approximately $206,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

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.