Earnings Outlook For Commercial Metals
Commercial Metals (NYSE:CMC) is set to give its latest quarterly earnings report on Monday, 2023-01-09. Here's what investors need to know before the announcement.
Analysts estimate that Commercial Metals will report an earnings per share (EPS) of $1.55.
Commercial Metals bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Historical Earnings Performance
Last quarter the company beat EPS by $0.22, which was followed by a 1.97% drop in the share price the next day.
Here's a look at Commercial Metals's past performance and the resulting price change:
|Quarter||Q4 2022||Q3 2022||Q2 2022||Q1 2022|
|Price Change %||-1.97%||2.82%||0.5%||0.36%|
Shares of Commercial Metals were trading at $49.16 as of January 04. Over the last 52-week period, shares are up 37.24%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release.
This article was generated by Benzinga's automated content engine and reviewed by an editor.