Commercial Metals Company (CMC - Free Report) manufactures, recycles, and markets steel and metal products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CMC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Commercial Metals could be a solid choice for investors.
Current Quarter Estimates for CMC
In the past 30 days, two estimates have gone higher for Commercial Metals while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 22 cents a share 30 days ago, to 27 cents today, a move of 22.7%.
Current Year Estimates for CMC
Meanwhile, Commercial Metals current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.23 per share 30 days ago to $1.38 per share today, an increase of 12.2%.
Commercial Metals Company Price and Consensus