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

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

Commercial Metals Stock Down 3.3 %

CMC stock opened at $48.77 on Wednesday. The stock’s 50 day simple moving average is $56.87 and its 200 day simple moving average is $54.97. The company has a market cap of $5.56 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. 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 fifty-two week low of $47.42 and a fifty-two week high of $64.53.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be given a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. Commercial Metals’s dividend payout ratio (DPR) is currently 17.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMC. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group reiterated a “sell” rating and set a $56.00 price objective (down from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. BMO Capital Markets dropped their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. 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 stock. According to MarketBeat, Commercial Metals presently has a consensus rating of “Hold” and a consensus price target of $64.17.

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.