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Commercial Metals (CMC) Gains But Lags Market: What You Should Know
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In the latest trading session, Commercial Metals (CMC - Free Report) closed at $36.34, marking a +0.14% move from the previous day. This change lagged the S&P 500's 0.64% gain on the day. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 0.46%.
Coming into today, shares of the manufacturer and recycler of steel and metal products had gained 14.08% in the past month. In that same time, the Basic Materials sector gained 6.43%, while the S&P 500 gained 4.56%.
Commercial Metals will be looking to display strength as it nears its next earnings release, which is expected to be January 10, 2022. In that report, analysts expect Commercial Metals to post earnings of $1.30 per share. This would mark year-over-year growth of 124.14%. Our most recent consensus estimate is calling for quarterly revenue of $2.05 billion, up 47.32% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $3.90 per share and revenue of $7.78 billion. These results would represent year-over-year changes of +10.48% and +15.55%, respectively.
It is also important to note the recent changes to analyst estimates for Commercial Metals. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.59% higher. Commercial Metals currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 9.3. This represents a premium compared to its industry's average Forward P/E of 3.83.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.
To follow CMC in the coming trading sessions, be sure to utilize Zacks.com.
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Commercial Metals (CMC) Gains But Lags Market: What You Should Know
In the latest trading session, Commercial Metals (CMC - Free Report) closed at $36.34, marking a +0.14% move from the previous day. This change lagged the S&P 500's 0.64% gain on the day. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 0.46%.
Coming into today, shares of the manufacturer and recycler of steel and metal products had gained 14.08% in the past month. In that same time, the Basic Materials sector gained 6.43%, while the S&P 500 gained 4.56%.
Commercial Metals will be looking to display strength as it nears its next earnings release, which is expected to be January 10, 2022. In that report, analysts expect Commercial Metals to post earnings of $1.30 per share. This would mark year-over-year growth of 124.14%. Our most recent consensus estimate is calling for quarterly revenue of $2.05 billion, up 47.32% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $3.90 per share and revenue of $7.78 billion. These results would represent year-over-year changes of +10.48% and +15.55%, respectively.
It is also important to note the recent changes to analyst estimates for Commercial Metals. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.59% higher. Commercial Metals currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 9.3. This represents a premium compared to its industry's average Forward P/E of 3.83.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.
To follow CMC in the coming trading sessions, be sure to utilize Zacks.com.