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Commercial Metals (CMC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Commercial Metals (CMC - Free Report) closed at $48.14, marking a +1.45% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had gained 1.96% over the past month. This has outpaced the Basic Materials sector's gain of 1.87% and lagged the S&P 500's gain of 3.31% in that time.
Wall Street will be looking for positivity from Commercial Metals as it approaches its next earnings report date. In that report, analysts expect Commercial Metals to post earnings of $1.84 per share. This would mark a year-over-year decline of 29.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 14.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.77 per share and revenue of $8.58 billion. These totals would mark changes of -5.13% and -3.79%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Commercial Metals. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 1.64% higher within the past month. Commercial Metals is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 6.11. Its industry sports an average Forward P/E of 7.53, so we one might conclude that Commercial Metals is trading at a discount comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Commercial Metals (CMC - Free Report) closed at $48.14, marking a +1.45% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had gained 1.96% over the past month. This has outpaced the Basic Materials sector's gain of 1.87% and lagged the S&P 500's gain of 3.31% in that time.
Wall Street will be looking for positivity from Commercial Metals as it approaches its next earnings report date. In that report, analysts expect Commercial Metals to post earnings of $1.84 per share. This would mark a year-over-year decline of 29.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 14.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.77 per share and revenue of $8.58 billion. These totals would mark changes of -5.13% and -3.79%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Commercial Metals. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 1.64% higher within the past month. Commercial Metals is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Commercial Metals's current valuation metrics, including its Forward P/E ratio of 6.11. Its industry sports an average Forward P/E of 7.53, so we one might conclude that Commercial Metals is trading at a discount comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.