From Nasdaq:

Commercial Metals (CMC) is expected to report a decline in earnings for the quarter ended November 2023. The earnings report, expected to be released on January 8, 2024, may impact the stock price depending on whether the numbers beat or miss expectations.

Analysts expect quarterly earnings of $1.43 per share, a 36.2% drop from last year, with revenues expected to be $1.9 billion, down 14.6% from the prior year.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate and predicts a likely deviation from the consensus estimate. Positive ESP readings combined with a Zacks Rank #1, 2, or 3 suggest a strong chance of an earnings beat.

For Commercial Metals, the estimate revisions and Earnings ESP indicate bullish analyst sentiment, with a positive Earnings ESP of +0.23%. However, the Zacks Rank is currently at #4, making it difficult to predict an earnings beat with certainty.

The company’s financial history suggests that while it has surpassed earnings estimates in two of the last four quarters, an earnings beat does not guarantee a rise in stock price. Other factors may come into play, so it’s important to consider other aspects before making investment decisions.

Zacks experts have identified a chemical company as the “Single Best Pick to Double”, showcasing high upside potential. The company has strong financials and is well-positioned for growth, making it an attractive investment.



Read more: Earnings Preview: Commercial Metals (CMC) Q1 Earnings Expected to Decline