29.69 -0.01 (-0.03%)
After hours: 4:02PM EDT
|Bid||28.00 x 800|
|Ask||31.33 x 800|
|Day's range||29.66 - 30.12|
|52-week range||24.74 - 37.50|
|PE ratio (TTM)||5.73|
|Earnings date||21 Feb. 2017 - 27 Feb. 2017|
|Forward dividend & yield||0.10 (0.34%)|
|1y target est||43.75|
Per $1,000 principal amount of Notes validly tendered at or prior to the Early Tender Time (as defined below) and not validly withdrawn. Per $1,000 principal amount of Notes validly tendered at or prior to the Early Tender Time and not validly withdrawn. Does not include Accrued Interest (as defined below).
Have Trump’s Tariffs Helped US Steel’s Pursuit of Greatness? U.S. Steel Corporation (X) produces steel in traditional blast furnaces. ArcelorMittal (MT) has a mix of blast furnaces and EAFs (electric arc furnace).
Have Trump’s Tariffs Helped US Steel’s Pursuit of Greatness? With the Section 232 tariffs, the US Department of Commerce is aiming to improve the domestic steel industry’s capacity utilization rate. The US steel industry’s capacity utilization rate has moved past 79% now and could rise above 80% soon, especially as U.S. Steel Corporation (X) ramps up production at its Granite City facility.
Zacks.com featured highlights include: Dollar Tree, Agenus, Huntsman, ArcelorMittal and International Paper
Despite US steel prices hovering near a decade high, steel stocks have sagged this year. Since steel companies’ cash flows have been strong and the balance sheets are in better shape compared to 2015, the question of share buybacks and special dividends came up during several steel companies’ second-quarter earnings calls. In response to a question on share buybacks, David Burritt, U.S. Steel Corporation’s (X) CEO, said, “I think you can look at our first priority now is to pursue profitable growth.
In this part, we’ll discuss steel companies’ second-quarter free cash flows. The free cash flow is the operating cash flow minus the capital expenditure. Free cash flows are a key metric for investors in capital-intensive industries like steel.
AK Steel’s (AKS) second-quarter EBITDA fell 11.4% YoY (year-over-year) to $148 million. AK Steel is the only company among the steel stocks that we’re covering in this series that has posted a yearly fall in its second-quarter EBITDA. U.S. Steel Corporation (X) posted an EBITDA of $451 million in the second quarter—compared to $255 million in the first quarter and $362 million in the second quarter of 2017. The company’s adjusted EBITDA rose 24.6% YoY. While U.S. ...
Steel companies sell steel either in the spot market or to contract customers. In contract pricing, several annual contracts roll over at the beginning of the year. As we noted previously, AK Steel’s (AKS) ASP (average selling price) growth has lagged other steel companies (CLF). The lag could be attributed to the higher percentage of contract sales in AK Steel’s product mix. Since most of the contracts rolled over before to the spike in steel prices, AK Steel couldn’t reap the full benefits from higher spot steel prices. ...
Previously in this series, we compared steel companies’ second-quarter shipments. In this part, we’ll look at their ASP (average selling price). The ASP is a key driver of steel companies’ performance. The ASP tends to impact companies’ profitability.
Steel companies’ revenues are a function of average steel prices and shipments. So, steel investors should follow quarterly production and shipment data. In this part, we’ll compared steel companies’ second-quarter shipments.
The second-quarter earnings season is nearly over. All of the major US steel companies have released their second-quarter reports. To some extent, the second-quarter earnings season was similar to the first quarter. Nucor (NUE) and Steel Dynamics (STLD) posted better-than-expected earnings.
In this article, we’ll look at Cleveland-Cliffs’ (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) and PE multiples.
ArcelorMittal (MT), the world’s largest steel producer, released its second-quarter earnings on August 1. It reported revenues of $19.9 billion in the second quarter, compared to $19.2 billion in the first quarter.
U.S. Steel Corporation (X) released its second-quarter earnings on August 1. The company’s adjusted EBITDA rose from $376.0 million in the second quarter of 2017 to $451.0 million in the second quarter. Although U.S. Steel’s second-quarter earnings were better than expected, its earnings guidance rattled investors.
US steel production is the key variable that drives US steelmakers’ (SLX) (XME) revenues. AK Steel (AKS) and ArcelorMittal (MT) are Cleveland-Cliffs’ (CLF) customers. Investors track production data to get a sense of the direction of overall volumes.
China is the world’s largest steel producer, consumer, and exporter. Chinese steel exports form a minuscule amount of US steel imports. However, the country’s steel exports still impact US steel companies like U.S. Steel (X), AK Steel (AKS), and Nucor (NUE), as higher Chinese steel exports put pressure on global steel prices, which eventually impacts the US steel pricing environment. Notably, US steel prices have risen sharply this year, hurting earnings of some of the end users. The industrial sector (DIA) has underperformed this year amid the US-China trade war scare.
The second-quarter earnings season has come to an end for US steelmakers. Cleveland-Cliffs (CLF) released its second-quarter earnings results before the market opened on July 20.
AK Steel (AKS) released its second-quarter earnings on July 30 after the markets closed and held its earnings call on July 31. AKS stock saw a selling spree and closed with a loss of 13.6% on July 31.
Steel Dynamics (STLD) released its second-quarter earnings after the markets closed on July 23 and held its earnings call the next day. Steel Dynamics posted revenues of $3.1 billion in the second quarter, compared to $2.4 billion in the second quarter of 2017 and $2.6 billion in the first quarter.
The second-quarter earnings season is nearly over, and all major US steel companies have released their quarterly reports. The earnings season began on a positive note with Nucor’s (NUE) earnings beat. The tempo continued after Steel Dynamics’ (STLD) quarterly earnings also surpassed analysts’ expectations.
So far in this series, we have discussed U.S. Steel Corporation’s (X) risk-return profile. In this part, we’ll discuss the company’s valuation compared to other steel companies.
With a market capitalization of US$27.58b, ArcelorMittal (AMS:MT) is a large-cap stock, which is considered by most investors as a safe bet. Common characteristics for these big stocks are theirRead More...