Commercial Metals (NYSE:CMC) – Equities research analysts at Jefferies Group boosted their Q2 2018 earnings estimates for Commercial Metals in a note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $0.30 per share for the quarter, up from their prior forecast of $0.26. Jefferies Group has a “Buy” rating and a $24.00 price target on the stock. Jefferies Group also issued estimates for Commercial Metals’ Q3 2018 earnings at $0.61 EPS and FY2019 earnings at $2.23 EPS.

Commercial Metals (NYSE:CMC) last released its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. Commercial Metals’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS.

Other analysts also recently issued reports about the stock. Citigroup reduced their price target on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, September 15th. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.00 to $24.00 in a report on Thursday, December 7th. Finally, Zacks Investment Research downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and a consensus target price of $21.88.

Shares of Commercial Metals (NYSE CMC) traded down $0.24 during midday trading on Wednesday, reaching $25.04. 2,521,900 shares of the company’s stock were exchanged, compared to its average volume of 4,014,933. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. The company has a market cap of $2,920.00, a P/E ratio of 46.37 and a beta of 1.26. Commercial Metals has a one year low of $17.05 and a one year high of $25.44.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be issued a $0.12 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.92%. Commercial Metals’s dividend payout ratio (DPR) is presently 88.89%.

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank increased its holdings in shares of Commercial Metals by 1.6% in the 2nd quarter. Amalgamated Bank now owns 16,403 shares of the basic materials company’s stock worth $319,000 after buying an additional 253 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Commercial Metals by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the basic materials company’s stock worth $114,000 after buying an additional 522 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Commercial Metals by 0.3% in the 2nd quarter. California Public Employees Retirement System now owns 259,400 shares of the basic materials company’s stock worth $5,040,000 after buying an additional 900 shares during the last quarter. Verity Asset Management Inc. increased its holdings in shares of Commercial Metals by 3.1% in the 2nd quarter. Verity Asset Management Inc. now owns 47,631 shares of the basic materials company’s stock worth $925,000 after buying an additional 1,421 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Commercial Metals by 7.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 23,450 shares of the basic materials company’s stock worth $456,000 after buying an additional 1,690 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

WARNING: “Q2 2018 EPS Estimates for Commercial Metals Boosted by Analyst (CMC)” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://theolympiareport.com/2018/01/10/q2-2018-eps-estimates-for-commercial-metals-boosted-by-analyst-cmc.html.

About Commercial Metals

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)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.