Commercial Metals Company (CMC) reported quarterly earnings results on Thursday, Jun-23-2016. The company said it had a profit of $0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.29. The company posted revenue of $1227.40 million in the period, compared to analysts expectations of $1195.85 million. The company’s revenue was down -18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Many Wall Street Analysts have commented on Commercial Metals Company. Commercial Metals Company was Downgraded by BofA/Merrill to ” Underperform” on Jun 2, 2016. Shares were Downgraded by Credit Agricole on Mar 28, 2016 to ” Sell” and Lowered the Price Target to $ 15 from a previous price target of $17 .
Commercial Metals Company closed down -0.6 points or -3.43% at $16.91 with 16,77,368 shares getting traded on Tuesday. Post opening the session at $17.5, the shares hit an intraday low of $16.86 and an intraday high of $17.5 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on May 16, 2016, Adam R Hickey (VICE PRESIDENT & CONTROLLER) sold 5,000 shares at $17.00 per share price. According to the SEC, on Apr 25, 2016, Paul K. Kirkpatrick (VP, GENERAL COUNSEL & SECRETAR) sold 2,500 shares at $18.20 per share price. On Apr 21, 2016, Terry P. Hatten (VP & CHIEF HUMAN RESOURCES OFF) sold 5,621 shares at $18.28 per share price, according to the Form-4 filing with the securities and exchange commission.
Commercial Metals Company (CMC) manufactures recycles and markets steel and metal products related materials and services. CMC has a network of steel mills (minimills) steel fabrication and processing facilities warehouses metal recycling facilities. It has five business segments: Americas Recycling Americas Mills Americas Fabrication International Mill and International Marketing and Distribution. The Americas Recycling segment processes scrap metals. The Americas Mills segment includes five steel minimills; two scrap metal shredders and 10 scrap metal processing facilities. The Americas Fabrication segment consists of CMCs steel fabrication facilities. The International Mill segment comprises CMCs mill recycling and fabrication operations located in Poland. International Marketing and Distribution segment includes international operations for the sales distribution and processing of steel products ferrous and nonferrous metals and other industrial products.