Commercial Metals Down 4% As Q4 Results Miss Analysts' View

Shares of steel and metal products manufacturer Commercial Metals Co. (CMC) are down 4 percent on Thursday's trading after the company's fourth quarter results came in below the Street estimates.

However, the company's quarterly earnings climbed to $152.3 million or $1.24 per share from $67.6 million or $0.56 per share last year.

Adjusted earnings from continuing operations were $154.2 million or $1.26 per share, compared to $95.3 million or $0.79 per share, in the prior year period. Analysts were looking for earnings of $1.27 per share for the three-month period.

Net sales for the quarter rose to $2.03 billion from $1.41 billion in the prior year. Analysts expected revenues of $2.04 billion for the fourth-quarter.

Currently at $31.14, the stock has traded between $18.68 and $36.49 during the 52 weeks range.

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