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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 $32.53, marking a -1.18% move from the previous day. This change lagged the S&P 500's daily loss of 0.85%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had gained 12.86% over the past month. This has outpaced the Basic Materials sector's gain of 8.34% and the S&P 500's loss of 0.41% in that time.
Wall Street will be looking for positivity from CMC as it approaches its next earnings report date. In that report, analysts expect CMC to post earnings of $0.73 per share. This would mark year-over-year growth of 23.73%. Meanwhile, our latest consensus estimate is calling for revenue of $1.68 billion, up 24.99% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.45 per share and revenue of $6.17 billion, which would represent changes of -7.2% and +12.74%, respectively, from the prior year.
Any recent changes to analyst estimates for CMC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.38% higher. CMC is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, CMC is currently trading at a Forward P/E ratio of 13.42. This valuation marks a premium compared to its industry's average Forward P/E of 8.2.
Meanwhile, CMC's PEG ratio is currently 3.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.57 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 29, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $32.53, marking a -1.18% move from the previous day. This change lagged the S&P 500's daily loss of 0.85%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had gained 12.86% over the past month. This has outpaced the Basic Materials sector's gain of 8.34% and the S&P 500's loss of 0.41% in that time.
Wall Street will be looking for positivity from CMC as it approaches its next earnings report date. In that report, analysts expect CMC to post earnings of $0.73 per share. This would mark year-over-year growth of 23.73%. Meanwhile, our latest consensus estimate is calling for revenue of $1.68 billion, up 24.99% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.45 per share and revenue of $6.17 billion, which would represent changes of -7.2% and +12.74%, respectively, from the prior year.
Any recent changes to analyst estimates for CMC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.38% higher. CMC is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, CMC is currently trading at a Forward P/E ratio of 13.42. This valuation marks a premium compared to its industry's average Forward P/E of 8.2.
Meanwhile, CMC's PEG ratio is currently 3.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.57 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 29, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.