Commercial Metals Company (NYSE:CMC) is trading up 29.17% versus 12-month low of 14.39 and stands -24.12% lower from its 1-year peak of $24.50. The consensus price target (PT) of $21.11 means that the market expects Company shares to increase by 14.8% in the short run. The sell-side target prices range from $16 to $27. In the last month the stock has moved in price -11.43%, with a one year change of 17.11%. The last trading session volume compares with the 2.20M average and market worth floats around 2.13B.
Commercial Metals Company (NYSE:CMC) gained 1.09% to reach at the trading price of $18.59 as it is set to release its next quarterly earnings report on March 23, 2017. Commercial Metals Company stock trades in the range of $18.26 to $18.77 before the earnings release. Let’s take a closer look at the current earnings forecast, particularly the things traders should pay close attention to. Earnings per share for the recently concluded quarter is expected to come in at $0.1 a share with $1.13B in revenue.
Commercial Metals Company (CMC) Future Earnings & History
After upcoming fiscal quarter results, all eyes will be on the prospects for the next reporting quarter. Analysts, on average, forecast Commercial Metals Company to earn $0.35 per share (EPS) on revenue of $1.31B. The EPS consensus range is $0.18-$0.58 on revenue between $1.52B and $1.23B.
While if we look at the Earnings Track Record, Commercial Metals Company (CMC) managed to surpass quarterly earnings per share estimates in 7 of the trailing twelve fiscal quarters, and has a positive trend with an average surprise of 58%. Last time the company reported, Commercial Metals Company (CMC) generated $0.06 in earnings per share, missing the consensus estimate of $0.16. Revenues hit $1.08B in the November 2017 quarter, which was below the consensus $1.11B projection. On the other hand, in the August 2017 quarter the company recorded a net $1.21B revenue with earnings per share of $0.22. Wall Street had anticipated $1.24B and $0.30, respectively. For comparison, there was a revenue of $1.23B and EPS of $0.31 in the May 2016 period.
Commercial Metals Company (NYSE:CMC) Analyst Insights
The buoyancy in the outlook of Commercial Metals Company (CMC) is getting weaker by the somewhat negative sentiment (2.80 on a 5-point scale) that sell-side analysts have provided concerning it. Brokerage firms on the average advocate the company shares as Underperform. Jefferies has been covering shares of CMC, so it is most recent view is worth a look. In a research note issued on Jan 19, 2017, analysts at downgraded the stock to Neutral from Buy. Another noteworthy analyst activity was recorded on Dec 12, 2016. Downgraded the stock to Hold from Buy.