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Commercial Metals (CMC) Dips More Than Broader Markets: What You Should Know
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Commercial Metals (CMC - Free Report) closed at $49.27 in the latest trading session, marking a -0.94% move from the prior day. This change lagged the S&P 500's 0.19% loss on the day. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had gained 6.03% over the past month, lagging the Basic Materials sector's gain of 9.51% and outpacing the S&P 500's gain of 4.7% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. In that report, analysts expect Commercial Metals to post earnings of $2.06 per share. This would mark year-over-year growth of 27.16%. Our most recent consensus estimate is calling for quarterly revenue of $2.16 billion, up 9.22% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $6.85 per share and revenue of $8.02 billion. These results would represent year-over-year changes of -16.36% and -9.99%, respectively.
Investors should also note any recent changes to analyst estimates for Commercial Metals. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 8.73% higher. Commercial Metals is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Commercial Metals is currently trading at a Forward P/E ratio of 7.26. This valuation marks a premium compared to its industry's average Forward P/E of 3.88.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Markets: What You Should Know
Commercial Metals (CMC - Free Report) closed at $49.27 in the latest trading session, marking a -0.94% move from the prior day. This change lagged the S&P 500's 0.19% loss on the day. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had gained 6.03% over the past month, lagging the Basic Materials sector's gain of 9.51% and outpacing the S&P 500's gain of 4.7% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. In that report, analysts expect Commercial Metals to post earnings of $2.06 per share. This would mark year-over-year growth of 27.16%. Our most recent consensus estimate is calling for quarterly revenue of $2.16 billion, up 9.22% from the year-ago period.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $6.85 per share and revenue of $8.02 billion. These results would represent year-over-year changes of -16.36% and -9.99%, respectively.
Investors should also note any recent changes to analyst estimates for Commercial Metals. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 8.73% higher. Commercial Metals is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Commercial Metals is currently trading at a Forward P/E ratio of 7.26. This valuation marks a premium compared to its industry's average Forward P/E of 3.88.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.