Wall Street's Insights Into Key Metrics Ahead of Commercial Metals (CMC) Q3 Earnings

Analysts on Wall Street project that Commercial Metals (CMC) will announce quarterly earnings of $0.75 per share in its forthcoming report, representing a decline of 26.5% year over year. Revenues are projected to reach $2.01 billion, declining 3.3% from the same quarter last year.Over the last 30 days, there has been a downward revision of 5.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.Given this perspective, it's time to examine the average forecasts of specific Commercial Metals metrics that are routinely monitored and predicted by Wall Street analysts.The consensus among analysts is that 'Net Sales- Emerging Businesses Group- Net sales from external customers' will reach $185.76 million. The estimate indicates a year-over-year change of -1.5%.Based on the collective assessment of analysts, 'Net sales from external customers- North America' should arrive at $1.60 billion. The estimate indicates a year-over-year change of -4.5%.The combined assessment of analysts suggests that 'Net sales from external customers- Europe' will likely reach $215.88 million. The estimate indicates a year-over-year change of +3.4%.The collective assessment of analysts points to an estimated 'Net sales from external customers- Corporate and Other' of $13.13 million. The estimate points to a change of +34.9% from the year-ago quarter.The consensus estimate for 'Major product- North America- Other' stands at $37.24 million. The estimate indicates a year-over-year change of +18.4%.Analysts predict that the 'North America - Average selling price (per ton) - Raw materials' will reach $951.15. Compared to the current estimate, the company reported $970 in the same quarter of the previous year.Analysts forecast 'Europe - Steel products metal margin per ton' to reach $289.43. The estimate is in contrast to the year-ago figure of $292.Analysts expect 'North America - Average selling price (per ton) - Downstream products' to come in at $1,252.19. Compared to the current estimate, the company reported $1,330 in the same quarter of the previous year.Analysts' assessment points toward 'North America - Average selling price (per ton) - Cost of ferrous scrap utilized per ton' reaching $353.17. Compared to the present estimate, the company reported $353 in the same quarter last year.It is projected by analysts that the 'North America - Average selling price (per ton) - Steel products metal margin per ton' will reach $495.12. Compared to the present estimate, the company reported $538 in the same quarter last year.According to the collective judgment of analysts, 'Europe - Steel products (External tons shipped)' should come in at 317.31 thousand. The estimate is in contrast to the year-ago figure of 297 thousand.The average prediction of analysts places 'Europe - Steel products - Rebar' at 97.15 thousand. Compared to the present estimate, the company reported 80 thousand in the same quarter last year.View all Key Company Metrics for Commercial Metals here>>>Over the past month, Commercial Metals shares have recorded returns of +0.8% versus the Zacks S&P 500 composite's +1.4% change. Based on its Zacks Rank #4 (Sell), CMC will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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