Q2 2018 EPS Estimates for Commercial Metals (CMC) Decreased by KeyCorp

Commercial Metals (NYSE:CMC) – Equities research analysts at KeyCorp decreased their Q2 2018 earnings per share (EPS) estimates for shares of Commercial Metals in a note issued to investors on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $0.25 per share for the quarter, down from their previous forecast of $0.34.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $0.06 EPS. Commercial Metals’s quarterly revenue was up 24.6% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. Jefferies Group decreased their price target on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. Finally, Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.00 to $24.00 in a research note on Thursday, December 7th. Four equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $21.88.

Shares of Commercial Metals (NYSE:CMC) traded up $0.09 during mid-day trading on Tuesday, hitting $24.83. 43,499 shares of the stock traded hands, compared to its average volume of 2,014,750. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. Commercial Metals has a 12 month low of $17.05 and a 12 month high of $25.90. The stock has a market cap of $2,890.00, a price-to-earnings ratio of 45.81 and a beta of 1.27.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new stake in shares of Commercial Metals during the 4th quarter worth $34,374,000. Janus Henderson Group PLC purchased a new position in Commercial Metals in the 2nd quarter worth $29,018,000. Deprince Race & Zollo Inc. raised its position in Commercial Metals by 58.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock worth $57,435,000 after purchasing an additional 1,117,876 shares during the period. BlueCrest Capital Management Ltd raised its position in Commercial Metals by 1,334.4% in the 4th quarter. BlueCrest Capital Management Ltd now owns 649,676 shares of the basic materials company’s stock worth $13,851,000 after purchasing an additional 604,384 shares during the period. Finally, Systematic Financial Management LP purchased a new position in shares of Commercial Metals in the fourth quarter valued at about $12,477,000. 88.77% of the stock is owned by institutional investors.

In related news, EVP Tracy L. Porter sold 13,601 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at approximately $250.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracy L. Porter sold 6,935 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total transaction of $174,345.90. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at $251.40. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, January 12th. Commercial Metals’s dividend payout ratio (DPR) is presently 88.89%.

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Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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