Commercial Metals (NYSE:CMC) posted its quarterly earnings results on Sunday. The basic materials company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05, MarketWatch Earnings reports. Commercial Metals had a net margin of 5.10% and a return on equity of 17.74%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company posted $0.73 EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year.
Shares of NYSE CMC traded up $0.98 during midday trading on Tuesday, reaching $22.64. The stock had a trading volume of 89,449 shares, compared to its average volume of 1,184,147. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 3.52 and a beta of 1.24. Commercial Metals has a twelve month low of $10.76 and a twelve month high of $24.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.13 and a current ratio of 2.97. The company’s 50 day moving average price is $20.60 and its 200 day moving average price is $20.78.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 4th. Stockholders of record on Thursday, January 21st will be given a $0.12 dividend. The ex-dividend date is Wednesday, January 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.12%. Commercial Metals’s dividend payout ratio (DPR) is currently 18.18%.
In other news, COO Tracy L. Porter sold 51,918 shares of Commercial Metals stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.81, for a total value of $1,080,413.58. Following the completion of the sale, the chief operating officer now owns 10 shares in the company, valued at approximately $208.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barbara Smith sold 82,082 shares of Commercial Metals stock in a transaction on Wednesday, January 6th. The shares were sold at an average price of $22.87, for a total transaction of $1,877,215.34. Following the completion of the sale, the chief executive officer now owns 769,105 shares of the company’s stock, valued at approximately $17,589,431.35. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Several research firms recently commented on CMC. Deutsche Bank Aktiengesellschaft downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Friday. BidaskClub upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 6th. Citigroup lifted their target price on shares of Commercial Metals from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, October 16th. ValuEngine upgraded shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 6th. Finally, Smith Barney Citigroup lifted their target price on shares of Commercial Metals from $21.00 to $22.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Commercial Metals has a consensus rating of “Hold” and an average target price of $22.44.
Commercial Metals Company Profile
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, Germany, and internationally. 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.
Read More: How does quantitative easing work?
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.