Published On: Mon, Sep 19th, 2016

Brokers Offer Predictions for Commercial Metals Co.’s FY2016 Earnings (CMC)

Commercial Metals Co. (NYSE:CMC) – Investment analysts at Jefferies Group lowered their FY2016 earnings estimates for shares of Commercial Metals in a research note issued on Thursday. Jefferies Group analyst S. Rosenfeld now anticipates that the firm will post earnings of $0.97 per share for the year, down from their prior estimate of $0.98. Jefferies Group currently has a “Hold” rating and a $16.50 target price on the stock. Jefferies Group also issued estimates for Commercial Metals’ FY2018 earnings at $1.39 EPS.
CMC has been the topic of several other research reports. Bank of America Corp. lowered Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 target price on the stock. in a report on Thursday, June 2nd. Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “sell” rating in a report on Wednesday, August 31st. Citigroup Inc. began coverage on Commercial Metals in a report on Monday, August 22nd. They set a “neutral” rating and a $16.00 target price on the stock. Finally, Clarkson Capital lowered Commercial Metals from a “neutral” rating to a “sell” rating in a report on Monday, June 27th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and an average target price of $16.69.
Commercial Metals (NYSE:CMC) opened at 14.97 on Monday. The company’s 50 day moving average price is $16.08 and its 200 day moving average price is $16.75. The company has a market cap of $1.72 billion, a P/E ratio of 13.60 and a beta of 1.59. Commercial Metals has a 52-week low of $12.44 and a 52-week high of $18.50.

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Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 23rd. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The business earned $1.23 billion during the quarter. Commercial Metals had a return on equity of 8.04% and a net margin of 1.02%. Commercial Metals’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS.
Several institutional investors have recently bought and sold shares of CMC. Mason Street Advisors LLC purchased a new position in Commercial Metals during the second quarter valued at approximately $883,000. Sterling Capital Management LLC purchased a new position in Commercial Metals during the second quarter valued at approximately $530,000. Schwab Charles Investment Management Inc. increased its position in Commercial Metals by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 520,965 shares of the company’s stock valued at $8,805,000 after buying an additional 11,526 shares during the last quarter. Amalgamated Bank increased its position in Commercial Metals by 10.3% in the second quarter. Amalgamated Bank now owns 14,277 shares of the company’s stock valued at $234,000 after buying an additional 1,328 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Commercial Metals by 17.9% in the second quarter. Legal & General Group Plc now owns 123,259 shares of the company’s stock valued at $2,068,000 after buying an additional 18,718 shares during the last quarter. 94.77% of the stock is currently owned by institutional investors.
In other news, Director Anthony A. Massaro sold 2,367 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $16.36, for a total value of $38,724.12. Following the transaction, the director now owns 69,252 shares of the company’s stock, valued at $1,132,962.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.
Commercial Metals Company Profile
Commercial Metals Company (CMC) manufactures, recycles and markets steel and metal products, related materials and services. CMC has a network of steel mills (minimills), steel fabrication and processing facilities, warehouses, metal recycling facilities. It has five business segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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