Commercial Metals Company(NYSE:CMC) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during Pre-Market on Mar 23, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $1.150B. Analysts estimated a revenue of $1.130B. The revenues were 1.77% above the estimates. Earnings per share were $0.25. The reported EPS was above estimates by 150%. Analysts had estimated an EPS of $0.1.
In a different note, On Jan 19, 2017, Citigroup said it Downgrades its rating on Commercial Metals Company. The shares have been rated ‘Neutral’ by the firm.
Commercial Metals Company (CMC) shares turned negative on Fridays trading session with the shares closing down -0.8 points or -4.23% at a volume of 31,15,513. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.9. The peak price level was also seen at $18.9 while the days lowest was $18.025. Finally the shares closed at $18.1. The 52-week high of the shares is $24.64 while the 52-week low is $14.575. According to the latest information available, the market cap of the company is $2,092 M.
Several Insider Transactions has been reported to the SEC. On Jan 27, 2017, Adam R Hickey (VP & Chief Accounting Officer) sold 2,085 shares at $20.85 per share price.Also, On Nov 14, 2016, Adam B. Batchelor (VICE PRESIDENT OF STRATEG) sold 5,372 shares at $20.37 per share price.On Nov 14, 2016, Terry P. Hatten (VP & CHIEF HUMAN RESOURCE) sold 4,313 shares at $20.00 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.