IBD 50 member Commercial Metals is in a potential buy range ahead of its next earnings report, expected on Mar. 17.
It broke out yesterday passing a 38.82 buy point from a first-stage consolidation on heavier volume. Watch for another buying opportunity with a pullback into the buy zone.
Be aware that buying just before a stock reports can be risky. You don't know how the stock will report and how the market will react, and you don't have enough time to build a profit cushion. You can reduce your risk by waiting to see how the company reports and how the market reacts.
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While sales growth fell last quarter from 44% to 42%, the bottom line grew 179%, up from 59% in the previous report.
Analysts expect earnings-per-share growth of 98% for the quarter, and 49% growth for the full year. Annual growth estimates were recently revised upward.
Commercial Metals has a 99 Composite Rating and earns the No. 1 rank among its peers in the Metal-Fabricators industry group. Reliance Steel & Aluminum and Insteel Industries are also among the group's highest-rated stocks.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
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