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Tuesday, September 21, 2021

Commercial Metals Company (NYSE:CMC) on the Path to Ruin

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Commercial Metals Company (CMC) shares are trading at lower $22.93 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $23.32.

To add more color to this target, the company’s high over the last year is $24.04 and the low is $10.76. Over the last 52 weeks, CMC is up 17.95% while the S&P 500 is up 16.41%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CMC reported a profit of $225.33 million. Commercial Metals Company also saw revenues increase to $1.34 billion. In addition, CMC has free cash flow of $397.74 million as of 05-2020. The company’s EBITDA came in at $146.78 million which compares well with its peers.

CMC booked profit margins of 5.30%, its Return on Equity (ROE) is 17.30%, and its Return on Assets is 7.70%. All told, it is clear that, CMC needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CMC has a short ratio of 4.89 and outstanding shares of 119.19M.

Company Outlook

CMC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.13 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.47. Commercial Metals Company CMC also noted assets of $3.95 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CMC has historically followed its peers on positive news.

All told, Commercial Metals Company CMC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CMC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Commercial Metals Company CMC is now commanding a market cap of 2.75B and a float of 117.50M. CMC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CMC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CMC, either long or short, and we have not been compensated for this article.

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