Research Analysts Set Expectations for Commercial Metals' FY2024 Earnings (NYSE:CMC)

Commercial Metals (NYSE:CMC - Free Report) - Zacks Research lifted their FY2024 earnings per share estimates for Commercial Metals in a note issued to investors on Thursday, April 4th. Zacks Research analyst S. Deb now anticipates that the basic materials company will post earnings per share of $5.30 for the year, up from their prior estimate of $5.07. The consensus estimate for Commercial Metals' current full-year earnings is $5.34 per share. Zacks Research also issued estimates for Commercial Metals' Q4 2024 earnings at $1.36 EPS, Q3 2025 earnings at $1.39 EPS, FY2025 earnings at $5.25 EPS and Q1 2026 earnings at $1.42 EPS.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm earned $1.44 EPS. The company's revenue for the quarter was down 8.4% on a year-over-year basis.

CMC has been the topic of several other research reports. BMO Capital Markets lifted their price objective on Commercial Metals from $52.00 to $60.00 and gave the company a "market perform" rating in a report on Friday, March 22nd. UBS Group started coverage on Commercial Metals in a research note on Tuesday, January 16th. They issued a "buy" rating and a $65.00 target price on the stock.

Commercial Metals Stock Down 0.1 %

Shares of NYSE:CMC traded down $0.06 during trading on Monday, hitting $57.82. 599,158 shares of the company's stock traded hands, compared to its average volume of 1,036,145. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 10.04 and a beta of 1.33. The company has a 50-day moving average price of $54.72 and a 200-day moving average price of $49.70.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st will be paid a $0.18 dividend. This is a boost from Commercial Metals's previous quarterly dividend of $0.16. The ex-dividend date is Thursday, March 28th. This represents a $0.72 annualized dividend and a yield of 1.25%. Commercial Metals's payout ratio is presently 12.50%.

Insiders Place Their Bets

In related news, Chairman Barbara Smith sold 35,704 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the transaction, the chairman now directly owns 36,196 shares of the company's stock, valued at approximately $2,095,024.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Lindsay L. Sloan sold 600 shares of the business's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the sale, the chief accounting officer now directly owns 12,338 shares in the company, valued at approximately $635,653.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Barbara Smith sold 35,704 shares of the business's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total value of $2,066,547.52. Following the completion of the sale, the chairman now owns 36,196 shares of the company's stock, valued at $2,095,024.48. The disclosure for this sale can be found here. Insiders have sold 320,089 shares of company stock valued at $16,383,553 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Commercial Metals

Institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors L.P. lifted its position in shares of Commercial Metals by 12.5% during the 1st quarter. Natixis Advisors L.P. now owns 12,638 shares of the basic materials company's stock valued at $526,000 after acquiring an additional 1,402 shares during the period. Bank of Montreal Can lifted its position in shares of Commercial Metals by 14.9% during the 1st quarter. Bank of Montreal Can now owns 13,282 shares of the basic materials company's stock valued at $547,000 after acquiring an additional 1,727 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Commercial Metals by 11.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,522 shares of the basic materials company's stock valued at $1,853,000 after acquiring an additional 4,540 shares during the period. APG Asset Management N.V. bought a new stake in shares of Commercial Metals during the 1st quarter valued at $2,188,000. Finally, Great West Life Assurance Co. Can lifted its position in shares of Commercial Metals by 9.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 69,545 shares of the basic materials company's stock valued at $2,980,000 after acquiring an additional 6,259 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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, 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.