|Bid||2.3000 x 38800|
|Ask||2.4300 x 4000|
|Day's Range||2.2600 - 2.4200|
|52 Week Range||2.0500 - 5.4000|
|Beta (3Y Monthly)||2.61|
|PE Ratio (TTM)||4.88|
|Earnings Date||Jul 29, 2019 - Aug 2, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.77|
Greater Cincinnati stocks plunged along with the stock market Monday amid the escalating trade battle between the U.S. and China.
U.S. Steel Corporation Stock Went from Boom to Bust in a Week(Continued from Prior Part)U.S. Steel CorporationU.S. Steel Corporation (X) has lost 13.2% in 2019. The company is underperforming other US-based steel companies. AK Steel (AKS) and
Shares of U.S. Steel Corp. tumbled 5.7% in midday trade Wednesday, after UBS went back to being bearish on the steel maker, citing concerns that blast oxygen furnace (BOF) operators will continue to lose market share to electric arc furnace (EAF) operators. Analyst Andreas Bokkenheuser downgraded U.S. Steel to sell, after upgrading it to neutral in early December. He slashed his price target to $10, which is 35% below current levels and the lowest target he's had on the stock since February 2016, from $22. Meanwhile, Bokkenheuser upgraded EAF operator Steel Dynamics Inc. to buy from neutral, and raised his price target to $47.00 from $37.50. "With U.S. steel demand in structural decline, EAF product quality rapidly improving and imports remaining somewhat resilient, we believe the war for market share will be fought on price," Bokkenheuser wrote in a note to clients. With an average of 66% higher [earnings before interest, taxes, depreciation and amortization per ton] than the BOFs, we assess the EAFs are best positioned to compete on price." Shares of EAF operator Nucor Corp. are up 1.2% in midday trade while BOF operator AK Steel Holding Corp.'s stock was down 1.4%. Meanwhile, the S&P 500 has up 0.1%.
China’s April Trade Data: Outlook for Metal InvestorsChina’s April trade dataOn May 8, China released its trade data for April. The country’s imports were better than expected and rose on a YoY (year-over-year) basis for the first time since
WEST CHESTER, Ohio, May 07, 2019 -- WEST CHESTER, OH, May 7, 2019—AK Steel (NYSE: AKS) said today that the company’s Middletown, Ohio coke plant has received the Max Eward.
AK Steel Holding Corp NYSE:AKSView full report here! Summary * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is high * Economic output in this company's sector is contracting Bearish sentimentShort interest | NegativeShort interest is extremely high for AKS with more than 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting AKS. Money flowETF/Index ownership | NegativeETF activity is negative and may be weakening. The net inflows of $225 million over the last one-month into ETFs that hold AKS are among the lowest of the last year and appear to be slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Why X and AKS Had Opposite Response to Q1 Earnings Beat(Continued from Prior Part)Q1 earningsLast week, both U.S. Steel (X) and AK Steel (AKS) released their first-quarter earnings. While both these companies posted better-than-expected earnings,
Why X and AKS Had Opposite Response to Q1 Earnings BeatBetter-than-expected earningsWe’re now towards the end of the first-quarter earnings season, and most US-based steel companies have released their earnings. It’s been an impressive earnings
Does AK Steel Holding Corporation (NYSE:AKS) represent a good buying opportunity at the moment? Let’s briefly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they […]
Trump Likes Steel Companies’ Investments, but Markets Don’tU.S. Steel Corporation Today, U.S. Steel Corporation (X) announced a $1.2 billion investment toward casting and rolling facilities at Mon Valley Works and cogeneration facilities at its
U.S. Steel: Q1 Earnings Might Revive Investors' Sentiments(Continued from Prior Part)U.S. Steel Corporation U.S. Steel Corporation (X) saw a flurry of downgrades last month. Credit Suisse downgraded the stock from “neutral” to
The first-quarter numbers from Cleveland-Cliffs (NYSE:CLF) weren't much to write home about. CLF stock opened higher on Friday of last week, after they were posted, only to make its way to an intraday loss of 3.5%.Source: Shutterstock Then something curious happened. Cleveland Cliffs stock fully recovered. It's held onto that rebound in the meantime.The stock's still not above key lines in the sand, to be clear, and is far from kick-starting a fresh, full-blown uptrend. There's a reason the largely tacit bulls have kept Cleveland Cliffs stock in the hunt for a breakout move, though. That is, despite an assumed lack of global economic strength, industry insiders have been hard-pressed to find real evidence that the iron ore pellet business is truly on the defensive.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCLF stock still looks just one nudge away from a wave of bullishness, and the undertow is pushing it in that direction. The Quarter That Wasn'tBlame Vale (NYSE:VALE) for the difficulty in pinning down the true strength of current and future iron ore market. The Brazilian behemoth suffered not one but two dam bursts near its mines in recent years, with the most recent one unfolding in January of this year. The latter one claimed a few dozen lives, and forced a shutdown of a major mining operation that has affected the global supply iron ore pellets. * 7 Dividend Stocks That Are Worth Your Money To what degree it's impacted that supply isn't clear. All producers like Vale and Cleveland Cliffs throttle their output to adjust for price fluctuations, but with Vale subdued, rivals like Vale and smaller Ferrexpo may have offered lower prices to secure new customers.Cleveland-Cliffs' Q1 results, however, don't quite jibe with the market price of iron ore and the apparent demand for it.As one would expect with Vale's partial absence, iron ore priced advanced from $76 per tonne before Vale's January accident to $93 per tonne now. The advance only extends price growth that started to take shape in 2016 though, and if demand was the driver, one couldn't tell it from last quarter's numbers from Clevaland Cliffs. Total volumes of ore pellets sold fell from 1.61 million tonnes for the comparable quarter a year earlier to only 1.55 million tonnes for the three-month stretch ending in March.Cleveland Cliffs didn't enjoy much of iron's price growth either. While volume was down, revenue was as well, falling nearly 13% from $180 million to $157 million.The Q1 numbers weren't the problem, though. It was the comparison figures from a year earlier that were unfairly high. Iron Ore Market to Remain RobustWhile consumption of ore pellets isn't terribly seasonal, the industry's capacity to ship it is. This is particularly true of Cleveland Cliffs, which relies heavily on access to access to locks and causeways that facilitate deliveries to its customers in the lower Great Lakes. An abnormally cold and lengthy winter season this year shut down water-based shipping in that region for longer than it may normally have been halted.Cleveland Cliffs was also a victim of unfortunate timing.CFO Keith Koci explained during the first-quarter conference call: "During last year's first quarter, because the AMM hot-rolled coil price rose from $653 to $860 per short ton from the beginning to the end of the quarter. We had an enormous favorable revaluation adjustment. With HRC prices remaining relatively flat during this year's first quarter, we had no such adjustment at this time, explaining the year-over-year decline in revenue rate."AK Steel (NYSE:AKS) confirmed the stagnation of hot rolled coiled steel prices with its recently quarterly report, but dialed back its profit outlook on the likelihood that HRC prices will remain suppressed through the end of the year.Bank of America recently downgraded U.S. Steel (NYSE:X) on a similar concern.There's a disconnect between finished steel and iron ore right now. The supply of iron feeding steel mills remains tight enough to lay the groundwork for more strength ahead.The evidence in plentiful. Case(s) in point: China's demand for iron ore grew for a fifth straight month in April. A recent World Bank report suggested iron ore prices would rise another 11% this year, fueled by disruptions not just with Vale's mines, but with mines operated in Australia by BHP Group (NYSE:BHP) and Rio Tinto (NYSE:RIO). And Ferrexpo recently predicted the seaborne ore pellet market would be short of demand this year between five million and ten million tonnes. Looking Ahead for CLF StockIt's this backdrop that quelled the knee-jerk selling to Cleveland Cliffs' first-quarter report. And, it's this undertow that's kept CLF stock on the cusp of a rally that's been brewing -- but on hold -- for months. Few traders are willing to the ones to stick their neck out first, but there are plenty of traders willing to follow someone else's lead.Bolstering the bullish case is a forward-looking price-to-earnings ratio of 7.1 -- a valuation that suggests investors have priced in a worst-case scenario, and then some. An ongoing tariff battle is at least partially to blame for the pessimism. * 7 Stocks That Are Soaring This Earnings Season Even if those tariffs remain in place in perpetuity, though, there's room and reason for gains. The trick is just getting enough traders to give Cleveland Cliffs stock the right nudge. Breaking above the upper boundary of the channel that's been in place 2016 is the key, though there's room for a decent gain between here and there. Click to EnlargeAs of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 7 A-Rated Stocks That Are Under $10 * 7 Stocks That Are Soaring This Earnings Season * 5 Biotech Stocks for a Long-Lived Portfolio * 10 Times Apple's Hardware Failed Consumers -- And Hurt Its Business Compare Brokers The post Add Cleveland Cliffs to Your Watchlist, If Not Yet Your Portfolio appeared first on InvestorPlace.
WEST CHESTER, Ohio, May 01, 2019 -- AK Steel (NYSE: AKS) said today that members of the United Steel Workers (USW), Local 9545, have ratified a three year labor agreement.
U.S. Steel: Q1 Earnings Might Revive Investors' Sentiments(Continued from Prior Part)U.S. Steel Corporation’s earnings estimates U.S. Steel Corporation (X) is expected to post an adjusted EBITDA of $228 million in the first quarter. The company
U.S. Steel: Q1 Earnings Might Revive Investors' SentimentsU.S. Steel CorporationU.S. Steel Corporation (X) is scheduled to release its first-quarter earnings on May 2 after the markets close. The company will hold its earnings call the next day.
AK Steel Holding Corporation (NYSE: AKS ) reported what looked like a good earnings beat Monday, but KeyBanc Capital Markets warned that some extraordinary items and lukewarm guidance may mean the steelmaker ...
Are AK Steel’s Q1 Earnings Worth the Celebration?(Continued from Prior Part)AK SteelAK Steel (AKS) was trading higher in after-market trading yesterday after it posted better-than-expected earnings. Nucor (NUE) and Cleveland-Cliffs (CLF), other
Corporate earnings are the main force behind the market again. Dow futures pointed to a modest gain, while the Nasdaq was lower.
How Cleveland-Cliffs Is Looking after Its Q1 2019 Results(Continued from Prior Part)Pellet premiums to soarDuring Cleveland-Cliffs’ Q1 conference call, CEO Lourenco Goncalves said, “Several people directly or indirectly involved with the