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Commercial Metals (CMC) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Commercial Metals (CMC - Free Report) closed at $45.94, marking a -1.61% move from the previous day. This move lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 2.14%.
Coming into today, shares of the manufacturer and recycler of steel and metal products had lost 4.52% in the past month. In that same time, the Basic Materials sector gained 0.57%, while the S&P 500 gained 5.1%.
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 $1.84 per share. This would mark a year-over-year decline of 29.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 14.57% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $7.77 per share and revenue of $8.58 billion. These results would represent year-over-year changes of -5.13% and -3.79%, respectively.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.85% higher. Commercial Metals is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 6.01. This represents a discount compared to its industry's average Forward P/E of 7.83.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% 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
In the latest trading session, Commercial Metals (CMC - Free Report) closed at $45.94, marking a -1.61% move from the previous day. This move lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 2.14%.
Coming into today, shares of the manufacturer and recycler of steel and metal products had lost 4.52% in the past month. In that same time, the Basic Materials sector gained 0.57%, while the S&P 500 gained 5.1%.
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 $1.84 per share. This would mark a year-over-year decline of 29.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 14.57% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $7.77 per share and revenue of $8.58 billion. These results would represent year-over-year changes of -5.13% and -3.79%, respectively.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.85% higher. Commercial Metals is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 6.01. This represents a discount compared to its industry's average Forward P/E of 7.83.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% 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.