In its upcoming report, Commercial Metals (CMC) is predicted by Wall Street analysts to post quarterly earnings of $0.78 per share, reflecting a decline of 52.2% compared to the same period last year. Revenues are forecasted to be $1.89 billion, representing a year-over-year decrease of 5.4%.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 25.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship 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 a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

In light of this perspective, let's dive into the average estimates of certain Commercial Metals metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts expect 'Net sales from external customers- North America' to come in at $1.49 billion. The estimate indicates a year-over-year change of -6.5%.

Based on the collective assessment of analysts, 'Major product- North America- Raw materials' should arrive at $310.94 million. The estimate points to a change of -0.9% from the year-ago quarter.

The average prediction of analysts places 'Major product- North America- Other' at $47.77 million. The estimate points to a change of +8% from the year-ago quarter.

Analysts' assessment points toward 'Major product- North America- Downstream products' reaching $517.03 million. The estimate indicates a change of -10.4% from the prior-year quarter.

The consensus estimate for 'North America - Average selling price (per ton) - Steel products' stands at $836.74. Compared to the current estimate, the company reported $892 in the same quarter of the previous year.

According to the collective judgment of analysts, 'Europe - Steel products (External tons shipped)' should come in at 306.98 thousand. The estimate is in contrast to the year-ago figure of 343 thousand.

The combined assessment of analysts suggests that 'Europe - Steel products - Rebar' will likely reach 91.47 thousand. Compared to the present estimate, the company reported 122 thousand in the same quarter last year.

Analysts predict that the 'Europe - Steel products metal margin per ton' will reach $283.17. The estimate is in contrast to the year-ago figure of $268.

Analysts forecast 'North America - Steel products (tons shipped)' to reach 802.35 thousand. Compared to the present estimate, the company reported 752 thousand in the same quarter last year.

It is projected by analysts that the 'Europe - Average selling price per ton - Steel products' will reach $667.06. Compared to the present estimate, the company reported $633 in the same quarter last year.

The collective assessment of analysts points to an estimated 'Europe - Cost of ferrous scrap utilized per ton' of $383.89. Compared to the current estimate, the company reported $365 in the same quarter of the previous year.

The consensus among analysts is that 'Europe - Steel products - Merchant and other' will reach 215.51 thousand. Compared to the current estimate, the company reported 221 thousand in the same quarter of the previous year.

View all Key Company Metrics for Commercial Metals here>>>

Shares of Commercial Metals have experienced a change of -22.3% in the past month compared to the -2% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), CMC is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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