Commercial Metals (NYSE:CMC) Announces Earnings Results

Commercial Metals (NYSE:CMC) released its quarterly earnings results on Monday. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78, RTT News reports. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm posted $1.49 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $48.89 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. Commercial Metals has a one year low of $47.42 and a one year high of $64.53. The company has a market capitalization of $5.57 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The stock has a fifty day moving average of $57.06 and a 200-day moving average of $55.03.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, January 16th. Commercial Metals’s payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CMC shares. UBS Group reissued a “sell” rating and set a $56.00 price target (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Morgan Stanley assumed coverage on shares of Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective on the stock. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. BMO Capital Markets cut their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday. Finally, BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.67.

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.