Commercial Metals (NYSE:CMC) Releases Earnings Results

Commercial Metals (NYSE:CMC) announced its quarterly earnings data on Thursday. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02, Briefing.com reports. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The company’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 EPS.

Commercial Metals Stock Up 3.3 %

Shares of NYSE CMC opened at $54.42 on Friday. The stock has a market capitalization of $6.30 billion, a PE ratio of 11.34 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.69. The business’s fifty day moving average price is $54.72 and its 200-day moving average price is $53.28. Commercial Metals has a one year low of $39.85 and a one year high of $59.81.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Monday, July 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Monday, July 1st. Commercial Metals’s payout ratio is currently 15.00%.

Analysts Set New Price Targets

CMC has been the subject of several research analyst reports. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets boosted their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd.

Insider Activity

In other news, Chairman Barbara Smith sold 35,704 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the completion of the transaction, the chairman now directly owns 36,196 shares of the company’s stock, valued at $2,095,024.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

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.