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Commercial Metals (CMC) Outpaces Stock Market Gains: What You Should Know
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Commercial Metals (CMC - Free Report) closed at $44.43 in the latest trading session, marking a +1.35% move from the prior day. This move outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.74%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 7.76% over the past month, lagging the Basic Materials sector's loss of 5.61% and the S&P 500's gain of 0.85% 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 $1.84, down 29.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.15 billion, down 14.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.77 per share and revenue of $8.58 billion, which would represent changes of -5.13% and -3.79%, respectively, from the prior year.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Commercial Metals is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Commercial Metals has a Forward P/E ratio of 5.64 right now. Its industry sports an average Forward P/E of 7.54, 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 34, which puts it in the top 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) Outpaces Stock Market Gains: What You Should Know
Commercial Metals (CMC - Free Report) closed at $44.43 in the latest trading session, marking a +1.35% move from the prior day. This move outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.74%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 7.76% over the past month, lagging the Basic Materials sector's loss of 5.61% and the S&P 500's gain of 0.85% 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 $1.84, down 29.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.15 billion, down 14.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.77 per share and revenue of $8.58 billion, which would represent changes of -5.13% and -3.79%, respectively, from the prior year.
Any recent changes to analyst estimates for Commercial Metals should also be noted by investors. 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Commercial Metals is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Commercial Metals has a Forward P/E ratio of 5.64 right now. Its industry sports an average Forward P/E of 7.54, 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 34, which puts it in the top 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.