Metal store

Commercial Metals (CMC) to Report First Quarter Results: What Ahead?

Metal trading company CMC is expected to report its first quarter fiscal 2022 results on January 10, before the opening bell.

In which direction are the estimates going?

Zacks’ consensus estimate for fiscal first-quarter revenue is pegged at $2.05 billion, suggesting growth of 47.3% from year-ago quarter levels. Zacks’ consensus estimate for earnings per share is pegged at $1.30 for the quarter, indicating a 124.1% year-over-year increase.

Fourth quarter performance

In the most recently reported quarter, the company’s earnings and revenue grew year-over-year, but fell short of Zacks’ respective consensus estimates. Commercial Metals has a four-quarter earnings surprise of 7.41%, on average.

What does our model indicate?

Our proven model does not conclusively predict an earnings beatdown for Commercial Metals this season. The combination of a positive Earnings ESP and a Zacks rank of #1 (Strong Buy), 2 (Buy), or 3 (Hold), increases the odds of beating Earnings. But it is not the case here.

You can discover the best stocks to buy or sell before they’re flagged with our earnings ESP filter.

ESP Earnings: The earnings ESP for commercial metals is 0.00%.

Zack’s Ranking: Commercial Metals currently has a Zacks rank of 1. You can see the full list of today’s Zacks #1 Rank stocks here.

Metal trading company award and EPS surprise

Commercial Metals Company price-eps-surprise | Metal Trading Company Quote

Key factors

Commercial Metals likely benefited from robust demand for steel products, driven by strong construction and infrastructure activity during the first fiscal quarter. The North America and Europe segment is expected to have benefited from strong construction activity, driving demand for rebar, merchant bar and wire rod products, as well as an increase in new residential construction work. These trends likely supported finished steel shipment volumes to North America and Europe during the first fiscal quarter.

Commercial Metals’ margin should have benefited from strong steel prices due to increased demand in key end-use markets. The company’s network optimization efforts and cost reduction initiatives likely contributed to margin performance in the quarter under review. The company implemented a price increase for its factory products in response to rapidly rising scrap costs.

Price performance

Commercial Metals shares have appreciated 62.9% over the past year compared to industry growth of 26.4%.

Zacks Investment ResearchImage source: Zacks Investment Research

Actions that are worth the detour

Here are a few stocks worth considering as they have the right combination of elements to post a beat profit this quarter.

Brands Acuity, Inc. AYI currently has an earnings ESP of +3.52% and a Zacks ranking of 2. Zacks’ consensus estimate for earnings in the first quarter of fiscal 2022 is up 0.4% over the past 30 last few days to hit $2.37 per share, suggesting year-over-year growth. by 16.7%.

Zacks’ consensus estimate for quarterly revenue is pegged at $896 million, indicating a 13% improvement over year-ago quarter levels. Acuity Brands has a four-quarter earnings surprise of 18.3% on average.

Keysight Technologies, Inc. KEYS currently has an earnings ESP of +0.26% and a Zacks rank of 2. Zacks’ consensus estimate for earnings in the first quarter of fiscal 2022 is up 1.3% over the past 60 last few days to hit $1.56 per share, suggesting 9% year-on-year growth. – there is the count of the quarter.

Zacks’ consensus estimate for quarterly revenue is pegged at $1.24 billion, indicating a 5.3% improvement over the year-ago quarter tally. Keysight has a four-quarter earnings surprise of 7.08% on average.

Macy’s, Inc. (M) currently has an earnings ESP of +1.93% and a Zacks ranking of 3. The Zacks consensus estimate for earnings for the fourth quarter of 2021 has risen 5.5% over the past 60 days to 1, $92 per share, indicating 140% growth from a year ago. quarter digit.

Zacks’ consensus estimate for quarterly revenue is pegged at $8.4 billion, indicating a 24.3% year-over-year improvement. Macy’s has a four-quarter earnings surprise of 313.5% on average.

The infrastructure stock boom will sweep America

A massive push to rebuild America’s crumbling infrastructure will soon be underway. It is bipartisan, urgent and inevitable. Billions will be spent. Fortunes will be made.

The only question is “Are you going to get into good stocks early when their growth potential is greatest?”

Zacks released a special report to help you do just that, and today it’s free. Discover 5 special companies looking to make the most of building and repairing roads, bridges and buildings, as well as transporting goods and transforming energy on an almost unimaginable scale.

Download FREE: How to Leverage Trillions of Dollars in Infrastructure Spending >>

Click to get this free report

Macy’s, Inc. (M): Free Stock Analysis Report

Commercial Metals Company (CMC): Free Stock Analysis Report

Acuity Brands Inc (AYI): Free Stock Analysis Report

Keysight Technologies Inc. (KEYS): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.