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Commercial Metals (CMC) Stock Moves -1.79%: What You Should Know
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In the latest trading session, Commercial Metals (CMC - Free Report) closed at $41.64, marking a -1.79% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.14%. Elsewhere, the Dow lost 1.91%, while the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had gained 20.01% over the past month, outpacing the Basic Materials sector's gain of 6.74% and the S&P 500's gain of 7.62% in that time.
Wall Street will be looking for positivity from Commercial Metals as it approaches its next earnings report date. The company is expected to report EPS of $2.58, up 104.76% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.42 billion, up 19.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.14 per share and revenue of $8.93 billion, which would represent changes of +187.25% and +32.68%, respectively, from the prior year.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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. Within the past 30 days, our consensus EPS projection has moved 8.58% higher. Commercial Metals is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Commercial Metals is holding a Forward P/E ratio of 4.18. This valuation marks a premium compared to its industry's average Forward P/E of 2.98.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 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.
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) Stock Moves -1.79%: What You Should Know
In the latest trading session, Commercial Metals (CMC - Free Report) closed at $41.64, marking a -1.79% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.14%. Elsewhere, the Dow lost 1.91%, while the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had gained 20.01% over the past month, outpacing the Basic Materials sector's gain of 6.74% and the S&P 500's gain of 7.62% in that time.
Wall Street will be looking for positivity from Commercial Metals as it approaches its next earnings report date. The company is expected to report EPS of $2.58, up 104.76% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.42 billion, up 19.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.14 per share and revenue of $8.93 billion, which would represent changes of +187.25% and +32.68%, respectively, from the prior year.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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. Within the past 30 days, our consensus EPS projection has moved 8.58% higher. Commercial Metals is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Commercial Metals is holding a Forward P/E ratio of 4.18. This valuation marks a premium compared to its industry's average Forward P/E of 2.98.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.