Commercial Metals (CMC) Stock Forecast & Price Target
Commercial Metals (CMC) Analyst Ratings
Bulls say
Commercial Metals Co. is poised for growth, with Q3 FY24 expectations indicating meaningful increases in shipments and earnings on account of favorable seasonal trends and a robust downstream backlog, which rose by 11% quarter-over-quarter. The company's capital expenditures for FY2024 have been raised to $550-600 million, underscoring their commitment to growth investments and enhancing their competitive position in the market. Furthermore, CMC's focus on improving operational efficiencies is evident in its substantial reductions in greenhouse gas emissions, energy consumption, and water withdrawal intensity, positioning the company favorably in an increasingly sustainability-conscious industry.
Bears say
The financial outlook for Commercial Metals Co suggests a negative trend, with projected declines in Q2'FY24 earnings expected to mark a trough for the fiscal year. Anticipated reductions in steel shipments in North America, coupled with further compression of steel product margins, underscore challenging market conditions that will likely impact profitability in the near term. Moreover, the newly established Emerging Businesses Group is also expected to experience sequential declines, exacerbating the uncertainty stemming from a declining backlog and seasonal volume fluctuations.
This aggregate rating is based on analysts' research of Commercial Metals and is not a guaranteed prediction by Public.com or investment advice.
Commercial Metals (CMC) Analyst Forecast & Price Prediction
Start investing in Commercial Metals (CMC)
Order type
Buy in
Order amount
Est. shares
0 shares