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Commercial Metals (CMC) Dips More Than Broader Markets: What You Should Know
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Commercial Metals (CMC - Free Report) closed the most recent trading day at $49.06, moving -0.33% from the previous trading session. This change lagged the S&P 500's daily loss of 0.09%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.22%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had gained 13.59% over the past month. This has lagged the Basic Materials sector's gain of 15.01% and outpaced the S&P 500's gain of 5.55% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. In that report, analysts expect Commercial Metals to post earnings of $2.16 per share. This would mark year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, up 9.22% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $6.85 per share and revenue of $8.02 billion. These results would represent year-over-year changes of -16.36% and -9.99%, respectively.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.73% higher. Commercial Metals is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Commercial Metals currently has a Forward P/E ratio of 7.19. This represents a premium compared to its industry's average Forward P/E of 3.99.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMC in the coming trading sessions, be sure to utilize Zacks.com.
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Commercial Metals (CMC) Dips More Than Broader Markets: What You Should Know
Commercial Metals (CMC - Free Report) closed the most recent trading day at $49.06, moving -0.33% from the previous trading session. This change lagged the S&P 500's daily loss of 0.09%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.22%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had gained 13.59% over the past month. This has lagged the Basic Materials sector's gain of 15.01% and outpaced the S&P 500's gain of 5.55% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. In that report, analysts expect Commercial Metals to post earnings of $2.16 per share. This would mark year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, up 9.22% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $6.85 per share and revenue of $8.02 billion. These results would represent year-over-year changes of -16.36% and -9.99%, respectively.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.73% higher. Commercial Metals is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Commercial Metals currently has a Forward P/E ratio of 7.19. This represents a premium compared to its industry's average Forward P/E of 3.99.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMC in the coming trading sessions, be sure to utilize Zacks.com.