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

Commercial Metals (NYSE:CMC - Get Free Report) posted its earnings results on Monday. The basic materials company reported $0.78 EPS 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 business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company earned $1.49 EPS. Commercial Metals's revenue was down 4.7% on a year-over-year basis.

Commercial Metals Trading Up 3.3 %

Shares of NYSE CMC traded up $1.62 during midday trading on Monday, reaching $50.51. 1,762,591 shares of the stock were exchanged, compared to its average volume of 1,331,490. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a 12 month low of $47.42 and a 12 month high of $64.53. The business has a 50-day simple moving average of $56.99 and a two-hundred day simple moving average of $55.01. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 2.74 and a beta of 1.19.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, January 16th. Commercial Metals's dividend payout ratio is currently 17.39%.

Wall Street Analyst Weigh In

CMC has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They issued an "equal weight" rating and a $65.00 price target on the stock. BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday. Wolfe Research cut Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. UBS Group restated a "sell" rating and issued a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Finally, BMO Capital Markets dropped their price objective 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $64.17.

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.