Is Commercial Metals (CMC) A 'Buy' Ahead of Fiscal Q3 Earnings Announcement?

Metals manufacturer Commercial Metals CMC is set to report fiscal third-quarter earnings results next week on Monday before the opening bell. Commercial Metals, a Zacks Rank #4 (Sell), has missed the earnings mark in two of the last four quarters. With shares rallying sharply off the April lows, is CMC stock a buy prior to the release?Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Analysts covering CMC are expecting the company to post a profit of 80 cents per share, reflecting a 21.6% decline relative to the same quarter last year. Sales are projected to drop 3.3% to $2 billion.CMC shares are up just slightly on the year. The steel recycler has seen its quarterly EPS estimate increase 3.9% ahead of Monday’s release.The stock is still overvalued based on traditional valuation metrics. Traders would be wise to exercise caution ahead of the quarterly announcement.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Commercial Metals Company (CMC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks