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Commercial Metals (CMC) Gains As Market Dips: What You Should Know
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Commercial Metals (CMC - Free Report) closed at $33.34 in the latest trading session, marking a +0.06% move from the prior day. This change outpaced the S&P 500's 0.54% loss on the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 8.49% over the past month, lagging the Basic Materials sector's loss of 2.26% and the S&P 500's loss of 7.87% in that time.
Wall Street will be looking for positivity from Commercial Metals as it approaches its next earnings report date. On that day, Commercial Metals is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 63.64%. Our most recent consensus estimate is calling for quarterly revenue of $1.82 billion, up 24.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.72 per share and revenue of $7.71 billion. These totals would mark changes of +62.04% and +14.6%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Commercial Metals. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 26.05% higher within the past month. Commercial Metals is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Commercial Metals has a Forward P/E ratio of 5.83 right now. Its industry sports an average Forward P/E of 4.84, so we one might conclude that Commercial Metals is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Commercial Metals (CMC) Gains As Market Dips: What You Should Know
Commercial Metals (CMC - Free Report) closed at $33.34 in the latest trading session, marking a +0.06% move from the prior day. This change outpaced the S&P 500's 0.54% loss on the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 8.49% over the past month, lagging the Basic Materials sector's loss of 2.26% and the S&P 500's loss of 7.87% in that time.
Wall Street will be looking for positivity from Commercial Metals as it approaches its next earnings report date. On that day, Commercial Metals is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 63.64%. Our most recent consensus estimate is calling for quarterly revenue of $1.82 billion, up 24.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.72 per share and revenue of $7.71 billion. These totals would mark changes of +62.04% and +14.6%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Commercial Metals. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 26.05% higher within the past month. Commercial Metals is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Commercial Metals has a Forward P/E ratio of 5.83 right now. Its industry sports an average Forward P/E of 4.84, so we one might conclude that Commercial Metals is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.