Commercial Metals (NYSE:CMC) Issues Earnings Results

Commercial Metals (NYSE:CMC) posted its quarterly earnings data on Thursday, June 20th. The basic materials company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04, reports. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Commercial Metals had a return on equity of 14.34% and a net margin of 2.92%. The business’s revenue was up 33.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share.

Shares of CMC stock traded up $0.51 on Friday, hitting $17.73. The stock had a trading volume of 1,470,668 shares, compared to its average volume of 1,936,456. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.00 and a quick ratio of 1.86. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 2.23 and a beta of 1.68. Commercial Metals has a 1 year low of $13.27 and a 1 year high of $22.87. The firm has a 50 day moving average of $15.92.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, July 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.71%. Commercial Metals’s dividend payout ratio is presently 32.21%.

A number of analysts have recently issued reports on CMC shares. ValuEngine raised Xylem from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Bank of America set a $77.00 price objective on Zscaler and gave the stock a “neutral” rating in a research note on Friday, May 31st. Macquarie reissued a “buy” rating on shares of Neo Lithium in a research note on Friday, March 22nd. TheStreet lowered Wayside Technology Group from a “b-” rating to a “c” rating in a research note on Wednesday, May 22nd. Finally, Citigroup set a $74.00 price objective on Realty Income and gave the stock a “hold” rating in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Commercial Metals has an average rating of “Hold” and a consensus target price of $19.10.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Earnings History for Commercial Metals (NYSE:CMC)

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