Commercial Metals Co rises on Q4 profit beat

Commercial Metals

17/10/2024 18:49

** Shares of Commerical Metals Company  CMC.N  rise 5.6% to
$56.7
    ** Steel and metal manufacturer posts Q4 EPS of $0.90,
beating analysts' estimate of $0.89, as per LSEG data 
    ** CMC reports Q4 sales of about $2 bln, in line with
estimates
    ** "Believe the underlying near and long-term demand
fundamentals remain strong" - CEO Peter Matt
    ** Co says it expects results in Q1 2025 to decline from Q4
levels
    ** 5 of 9 brokerages covering the stock rate it "buy" or
above, 4 "hold"; their median PT is $63.42
    ** As of last close, stock up ~13% YTD

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com;))