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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 $37.02 in the latest trading session, marking a +0.35% move from the prior day. This change outpaced the S&P 500's 0.58% loss on the day. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq added 0.34%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 20.05% over the past month, lagging the Basic Materials sector's loss of 14.63% and the S&P 500's loss of 10.53% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release, which is expected to be June 16, 2022. The company is expected to report EPS of $1.47, up 41.35% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.19 billion, up 18.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.29 per share and revenue of $8.38 billion. These totals would mark changes of +78.19% and +24.46%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Commercial Metals. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.92% higher. Commercial Metals is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 5.87. This represents a premium compared to its industry's average Forward P/E of 3.35.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% 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) Gains As Market Dips: What You Should Know
Commercial Metals (CMC - Free Report) closed at $37.02 in the latest trading session, marking a +0.35% move from the prior day. This change outpaced the S&P 500's 0.58% loss on the day. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq added 0.34%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 20.05% over the past month, lagging the Basic Materials sector's loss of 14.63% and the S&P 500's loss of 10.53% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release, which is expected to be June 16, 2022. The company is expected to report EPS of $1.47, up 41.35% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.19 billion, up 18.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.29 per share and revenue of $8.38 billion. These totals would mark changes of +78.19% and +24.46%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Commercial Metals. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.92% higher. Commercial Metals is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 5.87. This represents a premium compared to its industry's average Forward P/E of 3.35.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% 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.