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Commercial Metals (CMC) Stock Sinks As Market Gains: What You Should Know
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Commercial Metals (CMC - Free Report) closed the most recent trading day at $44.36, moving -0.43% from the previous trading session. This move lagged the S&P 500's daily gain of 0.05%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.02%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had lost 4.64% over the past month. This has lagged the Basic Materials sector's loss of 0.73% and the S&P 500's gain of 1.18% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.84, down 29.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.15 billion, down 14.57% from the prior-year quarter.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $7.77 per share and revenue of $8.58 billion. These results would represent year-over-year changes of -5.13% and -3.79%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate remained stagnant 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 5.73. This represents a discount compared to its industry's average Forward P/E of 7.61.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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) Stock Sinks As Market Gains: What You Should Know
Commercial Metals (CMC - Free Report) closed the most recent trading day at $44.36, moving -0.43% from the previous trading session. This move lagged the S&P 500's daily gain of 0.05%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.02%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had lost 4.64% over the past month. This has lagged the Basic Materials sector's loss of 0.73% and the S&P 500's gain of 1.18% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.84, down 29.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.15 billion, down 14.57% from the prior-year quarter.
CMC's full-year Zacks Consensus Estimates are calling for earnings of $7.77 per share and revenue of $8.58 billion. These results would represent year-over-year changes of -5.13% and -3.79%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate remained stagnant 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 5.73. This represents a discount compared to its industry's average Forward P/E of 7.61.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.