Commercial Metals (NYSE:CMC) Expected to Announce Quarterly Sales of $2.19 Billion

Equities analysts forecast that Commercial Metals (NYSE:CMC – Get Rating) will announce $2.19 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Commercial Metals’ earnings. The lowest sales estimate is $1.89 billion and the highest is $2.35 billion. Commercial Metals reported sales of $1.85 billion in the same quarter last year, which indicates a positive year over year growth rate of 18.4%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Commercial Metals will report full-year sales of $8.38 billion for the current financial year, with estimates ranging from $7.64 billion to $8.79 billion. For the next fiscal year, analysts forecast that the company will post sales of $8.17 billion, with estimates ranging from $7.00 billion to $9.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Commercial Metals.

Commercial Metals (NYSE:CMC – Get Rating) last released its earnings results on Thursday, March 17th. The basic materials company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.25. Commercial Metals had a net margin of 11.43% and a return on equity of 27.25%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $0.66 EPS. Commercial Metals’s revenue for the quarter was up 37.4% on a year-over-year basis.

A number of research analysts recently commented on CMC shares. BNP Paribas upgraded Commercial Metals from a “neutral” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Friday, January 21st. Exane BNP Paribas upgraded Commercial Metals from a “neutral” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Friday, January 21st. BMO Capital Markets upped their price objective on Commercial Metals from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Friday, March 18th. KeyCorp upped their price objective on Commercial Metals from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Finally, StockNews.com started coverage on Commercial Metals in a research note on Thursday, March 31st. They set a “buy” rating for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $42.67.

In related news, CEO Barbara Smith sold 20,899 shares of the company’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $43.49, for a total transaction of $908,897.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John R. Mcpherson purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average cost of $40.55 per share, for a total transaction of $202,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $202,750. The disclosure for this purchase can be found here. Insiders have sold 38,582 shares of company stock worth $1,718,106 over the last ninety days. 1.20% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. National Bank of Canada FI acquired a new position in Commercial Metals during the fourth quarter valued at $29,000. CWM LLC increased its position in Commercial Metals by 222.2% in the 1st quarter. CWM LLC now owns 828 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 571 shares during the last quarter. Montag A & Associates Inc. acquired a new position in Commercial Metals in the 4th quarter worth about $36,000. Exchange Traded Concepts LLC increased its position in Commercial Metals by 127.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,135 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 636 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Commercial Metals by 251.9% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,411 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 1,010 shares during the last quarter. 85.01% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CMC traded up $0.51 on Friday, hitting $36.34. 894,838 shares of the company’s stock traded hands, compared to its average volume of 1,223,218. Commercial Metals has a 1-year low of $28.76 and a 1-year high of $46.68. The company has a current ratio of 4.23, a quick ratio of 2.85 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $4.41 billion, a PE ratio of 4.96 and a beta of 1.14. The firm’s 50-day moving average price is $41.13 and its two-hundred day moving average price is $37.09.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 13th. Stockholders of record on Wednesday, March 30th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Tuesday, March 29th. Commercial Metals’s dividend payout ratio (DPR) is presently 7.64%.

Commercial Metals Company Profile (Get Rating)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

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