Commercial Metals (CMC) Earning Somewhat Positive Media Coverage, Accern Reports
Press coverage about Commercial Metals (NYSE:CMC) has trended somewhat positive recently, according to Accern. The research group ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Commercial Metals earned a coverage optimism score of 0.20 on Accern’s scale. Accern also gave news coverage about the basic materials company an impact score of 46.6342983764427 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:
- IHS Markit Score Update: Rise in demand for ETFs holding Commercial Metals Co is a positive for its shares (finance.yahoo.com)
- Commercial Metals Company (CMC) Holdings Decreased by Systematic Financial Management Lp – Modern Readers (modernreaders.com)
- Analyst’s Consensus to Hold Signal: Commercial Metals Company (CMC) – Street Observer (press release) (streetobserver.com)
- Commercial Metals Company (CMC) is Rich Dividend Yielding stock with rate of 2.57% – Voice Of Analysts (analystsbuzz.com)
- The Commercial Metals Company (CMC) Downgraded to “Sell” at BidaskClub (expressnewsline.com)
Shares of Commercial Metals (NYSE CMC) traded down 1.39% during midday trading on Friday, reaching $18.39. 978,667 shares of the company’s stock traded hands. Commercial Metals has a one year low of $14.58 and a one year high of $24.64. The stock’s 50-day moving average price is $19.33 and its 200 day moving average price is $19.33. The firm has a market capitalization of $2.13 billion, a PE ratio of 28.42 and a beta of 1.22.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.11. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts expect that Commercial Metals will post $0.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th were given a dividend of $0.12 per share. The ex-dividend date was Monday, July 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.61%. Commercial Metals’s dividend payout ratio is currently 73.85%.
A number of equities analysts have recently commented on the stock. BidaskClub upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Citigroup Inc. upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $21.00 to $22.00 in a research report on Tuesday, June 13th. Bank of America Corporation restated a “neutral” rating and issued a $20.00 price objective (up from $19.00) on shares of Commercial Metals in a research report on Sunday, June 25th. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price objective on shares of Commercial Metals in a research report on Wednesday, May 24th. Finally, Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.00.
About Commercial Metals
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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