Equities analysts expect Commercial Metals (NYSE:CMC) to report sales of $1.58 billion for the current quarter, Zacks reports. Four analysts have issued estimates for Commercial Metals’ earnings, with the lowest sales estimate coming in at $1.56 billion and the highest estimate coming in at $1.62 billion. Commercial Metals reported sales of $1.31 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.6%. The business is expected to announce its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Commercial Metals will report full-year sales of $5.89 billion for the current fiscal year, with estimates ranging from $5.84 billion to $5.98 billion. For the next year, analysts forecast that the business will report sales of $6.17 billion, with estimates ranging from $5.92 billion to $6.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Commercial Metals.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 20th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Commercial Metals had a net margin of 2.92% and a return on equity of 14.34%. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS.

A number of equities analysts recently issued reports on the stock. Deutsche Bank cut shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Thursday, July 11th. They noted that the move was a valuation call. Bank of America reiterated an “underperform” rating and set a $18.00 price objective on shares of Commercial Metals in a research report on Friday, May 31st. ValuEngine upgraded shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a research report on Friday, June 21st. Citigroup set a $16.00 price objective on shares of Commercial Metals and gave the stock a “hold” rating in a research report on Tuesday, June 11th. Finally, TheStreet upgraded shares of Commercial Metals from a “c+” rating to a “b” rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.10.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Commercial Metals by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,835,470 shares of the basic materials company’s stock worth $211,263,000 after acquiring an additional 368,873 shares during the last quarter. Highline Capital Management L.P. grew its holdings in Commercial Metals by 9.8% during the 2nd quarter. Highline Capital Management L.P. now owns 4,434,008 shares of the basic materials company’s stock worth $79,147,000 after acquiring an additional 395,000 shares during the last quarter. Northern Trust Corp grew its holdings in Commercial Metals by 1.0% during the 2nd quarter. Northern Trust Corp now owns 2,895,053 shares of the basic materials company’s stock worth $51,677,000 after acquiring an additional 29,518 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in Commercial Metals by 7.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,726,364 shares of the basic materials company’s stock worth $48,666,000 after acquiring an additional 182,237 shares during the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in Commercial Metals by 0.3% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,197,590 shares of the basic materials company’s stock worth $39,227,000 after acquiring an additional 6,857 shares during the last quarter. 94.92% of the stock is currently owned by hedge funds and other institutional investors.

CMC stock traded up $0.07 during trading on Monday, reaching $18.59. 2,039,100 shares of the company were exchanged, compared to its average volume of 1,460,531. The company has a 50-day moving average of $16.34 and a two-hundred day moving average of $16.55. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 2.12 and a beta of 1.74. Commercial Metals has a twelve month low of $13.27 and a twelve month high of $21.90. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.00 and a quick ratio of 1.86.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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

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