NEW YORK (TheStreet) -- Commercial Metals (CMC) shares are up 3.4% to $17.18 in early market trading on Thursday following the release of the steel and metal products manufacturer's third quarter earnings results before the opening bell today.
The Irving, TX-based company reported third quarter net income of $56.7 million, or 58 cents per diluted share on revenue of $1.51 billion.
Analysts on average were expecting the company to report earnings of 41 cents per share on revenue of $1.58 billion.
TheStreet Ratings team rates COMMERCIAL METALS as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate COMMERCIAL METALS (CMC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: CMC Ratings Report