Brokerages expect Commercial Metals Company (NYSE:CMC) to report $1.17 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Commercial Metals’ earnings, with estimates ranging from $1.03 billion to $1.24 billion. Commercial Metals posted sales of $1.08 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 8th.

According to Zacks, analysts expect that Commercial Metals will report full year sales of $1.17 billion for the current year, with estimates ranging from $4.32 billion to $5.22 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.10 billion per share, with estimates ranging from $4.89 billion to $5.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Commercial Metals.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.13). The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. Commercial Metals had a net margin of 0.95% and a return on equity of 6.50%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share.

Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research report on Tuesday, October 17th. Jefferies Group LLC raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Bank of America Corporation reissued a “neutral” rating and set a $21.00 target price (up from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Macquarie assumed coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 target price for the company. Finally, BidaskClub downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.56.

Commercial Metals (NYSE:CMC) traded down $0.32 during trading hours on Wednesday, hitting $18.88. 2,148,894 shares of the stock traded hands, compared to its average volume of 2,109,490. The company has a quick ratio of 1.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2,224.13, a P/E ratio of 25.26, a P/E/G ratio of 0.72 and a beta of 1.26.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, November 7th. Commercial Metals’s payout ratio is 120.00%.

A number of hedge funds have recently modified their holdings of CMC. BlackRock Inc. grew its position in Commercial Metals by 17,672.9% in the 1st quarter. BlackRock Inc. now owns 14,566,855 shares of the basic materials company’s stock worth $278,663,000 after purchasing an additional 14,484,894 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Commercial Metals in the 2nd quarter worth about $29,018,000. Deprince Race & Zollo Inc. grew its position in Commercial Metals by 167.7% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,900,269 shares of the basic materials company’s stock worth $36,922,000 after purchasing an additional 1,190,364 shares in the last quarter. Teachers Advisors LLC grew its position in Commercial Metals by 322.3% in the 2nd quarter. Teachers Advisors LLC now owns 1,043,599 shares of the basic materials company’s stock worth $20,277,000 after purchasing an additional 796,477 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Commercial Metals by 13.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock worth $87,673,000 after purchasing an additional 526,185 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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Commercial Metals Company Profile

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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Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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