Zacks Research Analysts Cut Earnings Estimates for Commercial Metals (NYSE:CMC)

Commercial Metals (NYSE:CMC - Free Report) - Investment analysts at Zacks Research lowered their Q4 2024 earnings per share (EPS) estimates for shares of Commercial Metals in a note issued to investors on Tuesday, September 3rd. Zacks Research analyst S. Deb now expects that the basic materials company will earn $1.29 per share for the quarter, down from their prior estimate of $1.38. The consensus estimate for Commercial Metals' current full-year earnings is $4.53 per share. Zacks Research also issued estimates for Commercial Metals' Q2 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.40 EPS, Q2 2026 earnings at $1.24 EPS and FY2026 earnings at $5.94 EPS.

A number of other equities research analysts also recently weighed in on CMC. StockNews.com downgraded shares of Commercial Metals from a "buy" rating to a "hold" rating in a research note on Thursday, June 20th. Bank of America cut their price target on shares of Commercial Metals from $70.00 to $69.00 and set a "buy" rating for the company in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a research note on Tuesday. They issued a "buy" rating and a $65.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.40.

Commercial Metals Stock Performance

Shares of CMC traded down $0.22 during trading hours on Friday, reaching $49.82. 681,635 shares of the company traded hands, compared to its average volume of 860,128. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. The stock's fifty day moving average is $54.60 and its 200 day moving average is $54.89. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26. The stock has a market cap of $5.73 billion, a P/E ratio of 10.38 and a beta of 1.17.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the business posted $2.02 EPS. The company's revenue for the quarter was down 11.4% on a year-over-year basis.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Monday, July 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, July 1st. Commercial Metals's dividend payout ratio (DPR) is presently 15.00%.

Institutional Trading of Commercial Metals

A number of institutional investors have recently bought and sold shares of CMC. Boston Partners grew its holdings in Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company's stock valued at $180,752,000 after purchasing an additional 3,063,241 shares during the period. Norges Bank acquired a new position in shares of Commercial Metals in the 4th quarter valued at $94,722,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Commercial Metals in the 2nd quarter valued at $50,132,000. Jacobs Levy Equity Management Inc. raised its stake in Commercial Metals by 388.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company's stock worth $17,550,000 after buying an additional 237,477 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Commercial Metals by 59.1% during the fourth quarter. First Trust Advisors LP now owns 617,188 shares of the basic materials company's stock worth $30,884,000 after acquiring an additional 229,266 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

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.