|Bid||6.71 x 300|
|Ask||6.73 x 400|
|Day's Range||7.18 - 7.99|
|52 Week Range||5.56 - 12.22|
|PE Ratio (TTM)||6.31|
|Earnings Date||Apr 25, 2018 - Apr 30, 2018|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||7.88|
NEW YORK, NY / ACCESSWIRE / February 16, 2018 / U.S. markets continued to rally for the fifth consecutive day on Thursday, after being hit with a sharp correction last week. The Dow Jones Industrial Average ...
This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on January 29. Index (PMI) data, output in the Basic Materials sector is rising.
VantagePoint Trading Software is a forecasting tool that uses both end of day data and artificial intelligence to provide traders a forecast of market movement. These forecasts are 1-3 days in advance ...
In this article, we’ll look at steel companies’ 1Q18 earnings guidance from their 4Q17 earnings calls. On AK Steel’s (AKS) 4Q17 call, Jaime Vasquez, AK Steel’s CFO, said, “We expect that our average flat-rolled steel selling price per ton in the first quarter will be up marginally compared to the fourth quarter of 2017.” However, the company expects its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) margin to rise by 150 basis points in 1Q18 compared to the sequential quarter. Since AK Steel’s revenues are expected to be flat in 1Q18, higher margins should translate into higher EBITDA.
In this article, we’ll see what leading steel companies had to say about their shipment guidance. Jaime Vasquez, AK Steel’s (AKS) CFO, said during the company’s 4Q17 earnings call, “We estimate that our first quarter flat-rolled steel shipments will be marginally higher compared to the fourth quarter of 2017.” While the company expects a 15% sequential increase in its automotive shipments, it expects its shipments in distributor markets to fall in 1Q18 as a result of an outage at its Middletown Works plant. Among other steel companies, U.S. Steel Corporation (X) expects its 2018 flat-rolled steel shipments to be flat compared to 2017 at ~10 million tons.
Cleveland-Cliffs Inc (NYSE:CLF) files its latest 10-K with SEC for the fiscal year ended on December 31, 2017.
Perhaps not surprisingly, the materials sector, a high beta group, got caught up in the recent equity market sell-off. Year-to-date, the Materials Select Sector SPDR (NYSE: XLB ), the largest materials ...
At one point following Credit Suisse’s (CS) upgrade, Cleveland-Cliffs (CLF) stock was trading at a rise of more than 6% on February 7, 2018, compared to its previous day’s close. Year-to-date (or YTD), Cliffs stock has returned -5.7% as of February 7. Stronger iron ore and US steel prices, as well as elevated North Atlantic Basin pellet premiums, led to this rise in the stock.
Can Cleveland-Cliffs Reverse Its Underperformance in 2018? Iron ore prices showed a lot of volatility in 2017, which is continuing well into 2018. The Chinese iron ore futures market is also reflecting strength evident in spot prices.
Can Cleveland-Cliffs Reverse Its Underperformance in 2018? Steel prices are the major driver of steelmakers’ earnings and revenues. According to Platts, US steel prices rose 17.5% on average compared to 2016.
Steel stocks haven’t been spared in the recent sell-off. Most steel stocks have pared their 2018 gains. Looking at individual names, U.S. Steel Corporation (X) and Nucor (NUE) are trading almost flat based on the closing prices on February 6.