Commercial Metals (NYSE:CMC) Releases Earnings Results, Hits Expectations

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

Commercial Metals Stock Up 3.3 %

Shares of NYSE CMC opened at $50.51 on Tuesday. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. Commercial Metals has a 12-month low of $47.42 and a 12-month high of $64.53. The firm’s 50-day simple moving average is $56.99 and its 200 day simple moving average is $55.01.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, January 16th. Commercial Metals’s payout ratio is presently 17.39%.

Analyst Ratings Changes

A number of research firms have recently commented on CMC. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. UBS Group reiterated a “sell” rating and issued a $56.00 price objective (down from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. Morgan Stanley began coverage on Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 target price for the company. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. Finally, BMO Capital Markets cut their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Commercial Metals has a consensus rating of “Hold” and an average price target of $64.17.

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.