|Bid||58.68 x 800|
|Ask||58.70 x 800|
|Day's range||58.20 - 59.07|
|52-week range||53.71 - 70.48|
|Beta (3Y monthly)||1.66|
|PE ratio (TTM)||9.00|
|Earnings date||17 Oct 2018 - 22 Oct 2018|
|Forward dividend & yield||1.52 (2.60%)|
|1y target est||76.12|
Is the Sell-Off in US Steel Stocks Overdone? As we saw in the previous part of this series, U.S. Steel Corporation’s (X) valuation, based on its forward EV-to-EBITDA, looks attractive and is significantly lower than Nucor (NUE), ArcelorMittal (MT), and Cleveland-Cliffs (CLF). Now let’s see whether U.S. Steel Corporation could be a decent opportunity.
AK Steel (AKS) is expected to release its third-quarter earnings on October 25. In this part, we’ll discuss analysts’ projections for AK Steel’s third-quarter earnings.
The third-quarter earnings season is in full swing. Steel Dynamics and Nucor (NUE) have already released their third-quarter earnings. While Steel Dynamics managed to beat its consensus earnings estimates, Nucor’s third-quarter earnings fell short of the expectations. AK Steel (AKS) is scheduled to release its third-quarter earnings on October 25. U.S. Steel Corporation (X) and ArcelorMittal (MT) are scheduled to release their third-quarter earnings on November 1.
The US steel industry got a major reprieve after President Donald Trump slapped Section 232 tariffs on US steel imports. AK Steel (AKS) and Cleveland-Cliffs (CLF) praised the tariffs. But even after the tariffs, US steel companies may still be looking to the Trump administration for support.
Cleveland-Cliffs (CLF) released its third-quarter earnings today before the markets opened. Its revenue came in at $741.8 million, which was 24.3% higher YoY (year-over-year), beating analysts’ estimate of $732 million according to the consensus compiled by Thomson Reuters. In its second-quarter results, it beat the consensus estimate.
In March, President Donald Trump imposed a 25% tariff on US steel imports, acting on the United States Department of Commerce’s Section 232 investigation. With the tariffs, the US steel industry’s capacity utilization rate was expected to rise above 80%.
Is the Sell-Off in US Steel Stocks Overdone? Steel prices are the key driver of steel companies’ earnings. Earlier this year, spot HRC (hot rolled coil) prices hit a decade high, with prices topping $900 per ton.
Shares of the largest steel producer in the United States fell as much as 3.7 percent to $56.91, as a dip in steel shipments from the second quarter put investors on alert that the market may be oversupplied. Nucor posted a profit that nearly tripled in the third quarter as a strong economy and the 25-percent tariff imposed in March boosted shipments and drove prices for its steel 23 percent higher. The imposition of the tariffs on steel imports raised futures prices for U.S. hot-rolled coil steel from $660 a ton in January to $924 at the start of June, but they have since fallen back to $834.
Is the Sell-Off in US Steel Stocks Overdone? As we’ve already seen in this series, there’s been a sell-off in US steel stocks, including Nucor (NUE), U.S. Steel Corporation (X), and AK Steel (AKS). In the previous part, we looked at some of the domestic factors that could be making investors bearish on US steel stocks (XME).
US steel stocks are having a terrible month, which has added to their woes. U.S. Steel Corporation (X) and AK Steel (AKS) have fallen 7.5% and 1.8%, respectively, this month. Nucor (NUE) has shed 6.9% of its market capitalization this month. Let’s look now at the various factors that are driving the recent slump in steel stocks.
Nucor's (NUE) steel mills unit performed impressively in Q3 but earnings missed expectations. It expects Q4 earnings to decrease across all three operating segments sequentially.
US steel stocks, which have been subdued for the last few months, have seen fresh selling pressure this month. Earlier this week, Credit Suisse downgraded US steel stocks from “overweight” to “equal weight.” Several other brokerages have also taken a bearish view of US steel stocks.
Nucor (NUE) delivered earnings and revenue surprises of -0.85% and 3.43%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
Nucor steel mill's shipments increased 7 percent in the quarter, while sales to external customers rose 6 percent from a year earlier. Net sales rose to $6.74 billion from $5.2 billion, beating estimates of $6.63 billion.
The Charlotte, North Carolina-based company said it had profit of $2.13 per share. Earnings, adjusted for one-time gains and costs, were $2.33 per share. The results missed Wall Street expectations. The ...
In this part of our series, we’ll look at Cleveland-Cliffs’s (CLF) valuation and compare it to those of its US steel peers. We’ll also look at its forward EV-to-EBITDA (enterprise value-to-EBITDA) multiples.
The latest project enables AK Steel (AKS) to explore new low-density steels that can be used in automotive structural applications.
Analysts’ EBITDA estimates reflect their expectations for a company’s future profitability. Analysts usually derive these estimates from revenue projections, margin assumptions, or cost projections.
Zacks.com highlights: Nucor, Rayonier Advanced Materials, Navistar International and NCI Building Systems
Cleveland-Cliffs (CLF) reported volumes of ~6 million long tons for its US (DIA) iron ore (or USIO) division for Q2 2018. The volumes during the quarter reflect a YoY (year-over-year) increase of 38%. The primary reasons for the increase in volumes were increased customer demand and change in the method of sales recognition.
Cleveland-Cliffs (CLF) is slated to release its third-quarter results before the market opens on October 19. It will have a conference call with analysts and investors on the same day at 10:00 AM EDT. CLF’s second-quarter results were a solid beat on expectations.