Commercial Metals (NYSE:CMC) Announces Earnings Results

Commercial Metals (NYSE:CMC - Get Free Report) issued its earnings results on Thursday. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05), Zacks reports. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.88 earnings per share. The company's revenue for the quarter was down 5.1% compared to the same quarter last year.

Commercial Metals Trading Up 4.9 %

Shares of CMC traded up $2.30 during mid-day trading on Monday, reaching $48.89. 1,568,190 shares of the company's stock traded hands, compared to its average volume of 866,506. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The stock's 50-day moving average is $48.87 and its two-hundred day moving average is $52.74. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The stock has a market cap of $5.56 billion, a P/E ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.17.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group reduced their price objective on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday. BMO Capital Markets decreased their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research note on Friday. Morgan Stanley dropped their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 target price on the stock. Finally, BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $60.33.

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Commercial Metals Company Profile

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.