Earnings Preview For Commercial Metals
Portfolio Pulse from Benzinga Insights
Commercial Metals (NYSE:CMC) is scheduled to release its quarterly earnings report on Thursday, 2024-03-21, with analysts estimating an EPS of $0.73. The company's past earnings performance shows a mixed impact on its stock price, with the last quarter's beat resulting in a 4.8% drop. Shares are currently trading at $54.5, up 20.67% over the last 52 weeks. Investors are looking for not just an earnings beat but also positive guidance for the next quarter.
March 20, 2024 | 2:01 pm
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Commercial Metals is expected to report an EPS of $0.73 for the upcoming quarter. Historical data shows mixed stock price reactions to earnings reports, with a notable 4.8% drop after last quarter's beat.
Given the historical mixed reactions to earnings reports and the recent 20.67% YTD stock increase, the short-term impact is uncertain. Positive guidance could influence a positive reaction, but past performance shows that even beats can lead to stock price drops.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100