For Commercial Metals’ first quarter of fiscal 2023 that ended in November, analysts are expecting revenue of $2.2 billion. That would be down 8.4% sequentially but up 1.0% year over year. Adjusted EPS are forecast at $1.96, down 20.2% sequentially and 21.0% higher year over year. For the full fiscal year ending in August, CMC is forecast to report EPS of $6.30, down 23.1%, on sales of $8.27 billion, down 7.2%.
Shares trade at 7.8 times expected 2023 EPS, 10.2 times estimated 2024 earnings of $4.79 and 13.4 times estimated 2025 earnings of $3.65 per share. The stock’s 52-week trading range is $31.47 to $50.83. CMC pays a forward dividend of $0.64 (yield of 1.33%). Total shareholder return for the past year was 32.2%.
Tilray
Shares of cannabis grower Tilray Inc. (NASDAQ: TLRY) have dropped by about 58% over the past year. The weak showing is virtually entirely due to lack of any movement by the United States toward removing marijuana from the list of dangerous drugs or enabling U.S. banks to offer normal banking services to companies in the cannabis business. If the Republican-controlled House ever gets its act together, prospects for a change in U.S. rules grow even dimmer. Tilray has broadened its product offerings to include spirits, and that has helped it maintain its position as the cannabis business’ market cap leader.
Of 20 analysts covering the stock, 14 have a Hold rating and four have Buy ratings. At a share price of around $3.00, the upside potential to the median price target of $3.95 is 31.7%. At the high price target of $12.00, the upside potential is 300%.
For Tilray’s second quarter of fiscal 2023, analysts are looking for revenue of $157.78 million, up 3.0% sequentially and by 1.7% year over year. Analysts expect the company to post a loss per share of $0.05, better than the prior quarter’s loss of $0.08, but worse than last year’s break-even quarter. For the full fiscal year ending in May, analysts forecast a loss per share of $0.23, compared to last year’s loss per share of $0.31. Full-year sales are expected to rise by 3.4% to $649.91 million.
Tilray is not expected to post a profit in 2023, 2024 or 2025. The company’s sales to enterprise value multiple is 3.1 in 2023, 2.7 in 2024 and 2.2 in 2025. The stock’s 52-week range is $2.52 to $9.08. Tilray does not pay a dividend, and the total return to shareholders last year was negative 58.4%.
Originally published at 24/7 Wall St.
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