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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 the most recent trading day at $45.42, moving +0.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 2.7%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had lost 5.04% over the past month. This has was narrower than the Basic Materials sector's loss of 5.41% and lagged the S&P 500's gain of 1.07% in that time.
Investors will be hoping for strength from Commercial Metals as it approaches its next earnings release. On that day, Commercial Metals is projected to report earnings of $1.84 per share, which would represent a year-over-year decline of 29.5%. Meanwhile, our latest consensus estimate is calling for revenue of $2.15 billion, down 14.57% from the prior-year quarter.
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.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Commercial Metals is currently a Zacks Rank #3 (Hold).
Digging into valuation, Commercial Metals currently has a Forward P/E ratio of 5.8. For comparison, its industry has an average Forward P/E of 7.8, which means Commercial Metals is trading at a discount to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Commercial Metals (CMC) Outpaces Stock Market Gains: What You Should Know
Commercial Metals (CMC - Free Report) closed the most recent trading day at $45.42, moving +0.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 2.7%.
Prior to today's trading, shares of the manufacturer and recycler of steel and metal products had lost 5.04% over the past month. This has was narrower than the Basic Materials sector's loss of 5.41% and lagged the S&P 500's gain of 1.07% in that time.
Investors will be hoping for strength from Commercial Metals as it approaches its next earnings release. On that day, Commercial Metals is projected to report earnings of $1.84 per share, which would represent a year-over-year decline of 29.5%. Meanwhile, our latest consensus estimate is calling for revenue of $2.15 billion, down 14.57% from the prior-year quarter.
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.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Commercial Metals is currently a Zacks Rank #3 (Hold).
Digging into valuation, Commercial Metals currently has a Forward P/E ratio of 5.8. For comparison, its industry has an average Forward P/E of 7.8, which means Commercial Metals is trading at a discount to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.