Commercial Metals Guides To Earnings Improvement, Analyst Raises Estimate For Q4

Commercial Metals Co (NYSE:CMC) reported its fiscal third quarter adjusted EBITDA short of expectations but guided to improved earnings across segments, according to JPMorgan.

The Commercial Metals Analyst: Analyst Bill Peterson reiterated a Neutral rating with a price target of $52.

The Commercial Metals Thesis: The company reported adjusted EBITDA of $204 million, representing a 20% year-on-year decline and missing consensus of $214 million, Peterson said in the note.

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