Zacks Research Has Bearish Estimate for CMC FY2027 Earnings

Commercial Metals (NYSE:CMC - Free Report) - Stock analysts at Zacks Research dropped their FY2027 earnings per share estimates for Commercial Metals in a research report issued on Thursday, December 19th. Zacks Research analyst S. Deb now anticipates that the basic materials company will post earnings per share of $5.47 for the year, down from their previous forecast of $5.56. The consensus estimate for Commercial Metals' current full-year earnings is $4.26 per share.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion.

CMC has been the subject of a number of other reports. The Goldman Sachs Group began coverage on Commercial Metals in a report on Monday, December 2nd. They issued a "buy" rating and a $75.00 target price for the company. 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 set a $62.00 target price on shares of Commercial Metals and gave the company a "market perform" rating in a research note on Friday, October 18th. Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley assumed coverage on shares of Commercial Metals in a research report on Thursday. They issued an "equal weight" rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $65.33.

Commercial Metals Price Performance

NYSE:CMC traded down $0.49 during mid-day trading on Monday, hitting $49.78. The company's stock had a trading volume of 811,207 shares, compared to its average volume of 873,578. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $57.84 and a 200-day moving average of $55.14. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 2.74 and a beta of 1.15. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, October 31st. Commercial Metals's payout ratio is presently 17.39%.

Hedge Funds Weigh In On Commercial Metals

Large investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in shares of Commercial Metals in the third quarter valued at approximately $66,000. Archer Investment Corp acquired a new stake in shares of Commercial Metals in the 2nd quarter valued at $77,000. KBC Group NV raised its position in shares of Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock worth $170,000 after acquiring an additional 425 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Commercial Metals during the second quarter valued at $195,000. Finally, Highland Capital Management LLC bought a new position in Commercial Metals in the third quarter valued at about $206,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.