Commercial Metals (NYSE:CMC) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Commercial Metals (NYSE:CMC) issued its earnings results on Thursday. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05), Zacks reports. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year.

Commercial Metals Trading Down 0.2 %

Shares of NYSE:CMC traded down $0.11 during trading hours on Thursday, hitting $46.76. 292,604 shares of the company’s stock traded hands, compared to its average volume of 862,216. Commercial Metals has a 1 year low of $42.62 and a 1 year high of $64.53. The business has a fifty day moving average price of $48.88 and a 200-day moving average price of $52.81. The firm has a market capitalization of $5.31 billion, a P/E ratio of 42.18, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.54%. Commercial Metals’s dividend payout ratio (DPR) is presently 64.86%.

Wall Street Analyst Weigh In

CMC has been the topic of several analyst reports. Morgan Stanley reduced their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Jefferies Financial Group reduced their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, BMO Capital Markets reduced their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and a consensus price target of $61.83.

About Commercial Metals

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.