Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Commercial Metals Company (CMC) recently shared the outcomes of its third quarter fiscal 2024 results, presenting a resilient financial and operational performance amidst the complexities of the steel industry and broader market uncertainties.</li><li>On the positive side, CMC reported strong core EBITDA and margin results, with performance levels well above the company's historic averages.</li><li>The earnings resilience can be attributed to positive shifts in the company's business structure and the steel industry, notably marked by CMC’s strategic acquisitions that have bolstered its market leadership and enhanced the operational efficiency of its asset base.</li></ul>

Commercial Metals Company (CMC) recently shared the outcomes of its third quarter fiscal 2024 results, presenting a resilient financial and operational performance amidst the complexities of the steel industry and broader market uncertainties.On the positive side, CMC reported strong core EBITDA and margin results, with performance levels well above the company's historic averages.The earnings resilience can be attributed to positive shifts in the company's business structure and the steel industry, notably marked by CMC’s strategic acquisitions that have bolstered its market leadership and enhanced the operational efficiency of its asset base.

Commercial Metals Company: Will The Expansion and Optimization of Production Facilities Result In A Higher Top-Line? - Major Drivers

<ul><li>Commercial Metals Company's Q2'2024 earnings indicated a profitable yet relatively modest quarter.</li><li>It reported net earnings of $85.8 million or $0.73 per diluted share on net sales of $1.8 billion.</li><li>Excluding nonoperational items, adjusted earnings equated to $103.1 million or $0.88 per diluted share, with consolidated core EBITDA for the quarter representing $224.4 million.</li></ul>

Commercial Metals Company's Q2'2024 earnings indicated a profitable yet relatively modest quarter.It reported net earnings of $85.8 million or $0.73 per diluted share on net sales of $1.8 billion.Excluding nonoperational items, adjusted earnings equated to $103.1 million or $0.88 per diluted share, with consolidated core EBITDA for the quarter representing $224.4 million.

Commercial Metals Company: These Are The 4 Biggest Growth Drivers For The Company! - Financial Forecasts

<ul><li>This is our first report on steel and metal products manufacturer, Commercial Metals Company.</li><li>The company reported net earnings of $176.3 million or $1.49 per diluted share on net sales of $2 billion.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on steel and metal products manufacturer, Commercial Metals Company.The company reported net earnings of $176.3 million or $1.49 per diluted share on net sales of $2 billion.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Commercial Metals Company: Initiation of Coverage - What Is Their Biggest Competitive Advantage? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>SPX is holding above its 200-day MA/3940 coinciding with its prior downtrend from 2022 near 3915; 3915-3940 remains critical support, and is the gateway to a much deeper pullback.</li>
<li>Additionally, the Nasdaq 100 (QQQ) is breaking back above $297, another important line in the sand for us.</li>
<li>The SPX holding at 3915-3940 could be the spark that allows another run toward YTD highs, but we continue to expect 4165-4200 to cap upside on the S&amp;P 500.</li>
</ul>


SPX is holding above its 200-day MA/3940 coinciding with its prior downtrend from 2022 near 3915; 3915-3940 remains critical support, and is the gateway to a much deeper pullback.
Additionally, the Nasdaq 100 (QQQ) is breaking back above $297, another important line in the sand for us.
The SPX holding at 3915-3940 could be the spark that allows another run toward YTD highs, but we continue to expect 4165-4200 to cap upside on the S&amp;P 500.


Still Expecting 4165-4200 on S&P 500 to Cap Upside; Buys Within Insurance and Steel/Metals

<ul>
<li>Despite $IWM already hitting our price target at 200-day MA/YTD downtrend, and the $SPX getting to within 1% of our target at 200-day MA, we see this 1.5-month rally continuing.</li>
<li>We expect further upside as long as the 1.5-month uptrend channels remain intact on the SPX and IWM, and we believe that breakouts above their 200-day MAs could be coming</li>
<li>Breakouts above their 200-day MAs that would likely signal the end to this bear market.</li>
</ul>


Despite $IWM already hitting our price target at 200-day MA/YTD downtrend, and the $SPX getting to within 1% of our target at 200-day MA, we see this 1.5-month rally continuing.
We expect further upside as long as the 1.5-month uptrend channels remain intact on the SPX and IWM, and we believe that breakouts above their 200-day MAs could be coming
Breakouts above their 200-day MAs that would likely signal the end to this bear market.


Small- And Mid-Cap Indexes Poised to Break Out?; Further Upside Expected; Buys Within Cyclicals

United States

Commercial Metals Company and its subsidiaries manufacture, recycle, and market steel and metal products and related materials.  The Company markets and trades primary and secondary metals, steel, ores, concentrates, industrial minerals, ferroalloys, chemicals, and other materials used in a variety of industries.

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Commercial Metals Co (CMC US)

Commercial Metals Company: Will The Expansion and Optimization of Production Facilities Result In A Higher Top-Line? - Major Drivers

Commercial Metals Company (CMC) recently shared the outcomes of its third quarter fiscal 2024 results, presenting a resilient financial and...

Baptista Research

Commercial Metals Company: These Are The 4 Biggest Growth Drivers For The Company! - Financial Forecasts

Commercial Metals Company's Q2'2024 earnings indicated a profitable yet relatively modest quarter. It reported net earnings of $85.8 million or...

Baptista Research

Commercial Metals Company: Initiation of Coverage - What Is Their Biggest Competitive Advantage? - Major Drivers

This is our first report on steel and metal products manufacturer, Commercial Metals Company. The company reported net earnings of $176.3 million...

Baptista Research

Still Expecting 4165-4200 on S&P 500 to Cap Upside; Buys Within Insurance and Steel/Metals

The $SPX holding at 3915-3940 could be the spark that allows another run toward YTD highs, but we continue to expect 4165-4200 to cap upside and...

Vermilion Research

Small- And Mid-Cap Indexes Poised to Break Out?; Further Upside Expected; Buys Within Cyclicals

Despite $IWM already hitting our price target at its 200-day MA/YTD downtrend, & the $SPX getting to within 1% of our target at its 200-day MA, we...

Vermilion Research

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