Commercial Metals (NYSE:CMC) Posts Earnings Results

Commercial Metals (NYSE:CMC) released its earnings results on Monday. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.06), RTT News reports. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%.

Commercial Metals Stock Performance

Shares of CMC opened at $48.89 on Monday. The firm has a market capitalization of $5.57 billion, a P/E ratio of 11.81, a PEG ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a one year low of $47.42 and a one year high of $64.53. The business has a fifty day moving average of $57.06 and a 200 day moving average of $55.03.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. Commercial Metals’s payout ratio is 17.39%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CMC shares. UBS Group reiterated a “sell” rating and set a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Morgan Stanley initiated coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.67.

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.