Commercial Metals (NYSE:CMC) Posts Drop in Fiscal First Quarter Profit – CMC, STLD, NUE, GGB

Commercial Metals Company (NYSE:CMC) on Monday announced a sharp drop in profit for the Q1 as sales plunged in a tough economy and the earlier year results comprised a major tax benefit.

The Steel maker reported that net earnings attributable to CMC for the Q1 fell to $49.72 million or $0.42 a share from $107.73 million or $0.93 a share in the similar period a year ago.

The most recent results comprised a gain of $0.14 a share linked with the sale of the corporation’s 11% ownership interest in Trinecke Zelezarny.

The company announced net sales tumbled to $1.789 billion from $1.987 billion. Thomson Reuters 10 analyst’s survey on average projected revenues of $1.89 billion.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Steel Dynamics, Inc. (NASDAQ:STLD) rose +2.81% to settle at $15.01, Nucor Corporation (NYSE:NUE) moved up +0.44% to end at $45.48 while Gerdau SA (ADR) (NYSE:GGB) jumped +1.15% to finish at $9.64 on Monday.

Commercial Metals Company (NYSE:CMC) on Jan 07, 2013 increased +3.09% to the closing price of $16.02. The overall volume in the last trading session was 3.53 million shares. Its fifty two weeks range was $11.30 – $16.48. The total market capitalization remained at $1.87 billion.

CMC is ahead of its 52-week low with 4.25% and looking forward from its 52-week high price with 0.65%. CMC’s last month’s stock price volatility remained 2.62%. In its share capital CMC has 116.45 million outstanding shares, among them 114.27 million shares have been floated in market exchange. CMC’s stock’s institutional ownership remained 75.78% while insider ownership included 0.36%.

The stock price of CMC is moving forward from its 20 days moving average with 9.95% and remote positively from 50 days moving average with 14.21%. CMC’s current year’s earnings per share experienced an addition with 989.79% while its current quarter performance remained at 22.76%. Company’s beta coefficient included 1.53. Beta factors measure the amount of market risk associated with market trade.

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