Correction - BUZZ - Commercial Metals shares surge as its fourth-quarter results exceed expectations

Correction to the last key point: The year-to-date loss data is as of the previous trading day's closing price and does not include the price change on the day.

October 15 - ** Shares of steel manufacturer Commercial Metals (CMC.N) rose 4.15% in premarket trading to $68

** The company reported adjusted earnings per share of $2.09 for the fourth quarter, higher than analysts' average estimate of $1.97—data compiled by LSEG

** CMC reported quarterly revenue of $2.66 billion, above analysts' expectations of $2.57 billion

** The company expects to achieve approximately $100 million in annualized incremental EBITDA by fiscal 2027 through actions to improve margins

** Out of 14 brokerages, 9 rate the stock as “Buy” or higher, and 5 rate it “Hold”; the median price target is $80

** The stock currently trades at 8.57 times forward 12-month expected earnings per share, well above the industry median of 3.25 times

** As of the previous trading day's close, CMC has fallen more than 5% year-to-date

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