|Bid||631.80 x 0|
|Ask||632.40 x 0|
|Day's Range||622.00 - 635.80|
|52 Week Range||435.50 - 710.20|
|Beta (3Y Monthly)||0.67|
|PE Ratio (TTM)||3.84|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||1.12 (18.35%)|
|1y Target Est||7.00|
Moody's Investors Service (Moody's) has changed to positive from stable the outlook of EVRAZ plc (Evraz). Concurrently, Moody's has affirmed Evraz's Ba1 corporate family rating (CFR), Ba1-PD probability of default rating (PDR) and the Ba2 senior unsecured ratings of the notes issued by Evraz.
Russian steel major Evraz’s largest shareholder, Roman Abramovich, its chairman and chief executive have together sold 1.7 per cent of the company’s total stock, worth almost £160m, via an accelerated bookbuild. This is the second major sale by this group this year, with the first in March worth £151m, as the steelmaker’s share price reached new highs. Evraz declined to comment on the latest sale.
Moody's Investors Service ("Moody's") has today assigned a Ba2 rating to EVRAZ plc's (Evraz) proposed senior unsecured notes. Evraz's Ba1 corporate family rating (CFR), Ba1-PD probability of default rating and stable outlook are not affected by this action. Evraz intends to use the proceeds from the proposed notes issuance to refinance its existing debt, including the purchase of the company's outstanding $700 million senior unsecured notes due April 2020 pursuant to the tender offer announced by Evraz on 18 March 2019.
Moody's Investors Service ("Moody's") has today assigned a Ba1 corporate family rating (CFR) and Ba1-PD probability of default rating (PDR) to EVRAZ plc, which owns a 100% stake in Evraz Group S.A., one of the largest vertically integrated steel, mining and vanadium companies in Russia. The outlook of EVRAZ plc is stable.
Russia's second-biggest steelmaker Evraz reported on Thursday its strongest full-year core earnings in a decade, due to higher prices of steel and vanadium, and a weaker rouble. "The group generated (core earnings at their) highest level since 2008, which made it possible to pay dividends of $1.6 billion," Chief executive Alexander Frolov said in a statement. In October, Evraz said it was considering four new investment projects that would raise annual capital expenditure to between $830-990 million.
Moody's Investors Service (Moody's) has today upgraded Evraz Group S.A.'s (Evraz) corporate family rating (CFR) to Ba1 from Ba2, probability of default rating (PDR) to Ba1-PD from Ba2-PD and senior unsecured rating assigned to the notes issued by Evraz to Ba2 from Ba3. The outlook on Evraz's ratings is stable.
Britain's top share index rose slightly in choppy trade on Monday as leading software group MicroFocus (MCRO.L) surprised with a robust revenue outlook and Evraz (EVRE.L) was boosted by gains in steel prices in China. The FTSE 100 (.FTSE) closed up 0.1 percent, extending last week's gains as the market continued a cautious recovery from October's brutal sell-off, shrugging off weaker performances by Asian markets earlier. The FTSE 100 hit its session high after the pound was briefly knocked by data showing business activity in Britain's dominant services sector slowed to a seven-month low last month.
Russian steelmaker Evraz is considering spending almost half a billion dollars on a new rail mill in the United States, as U.S. tariffs on steel imports boost the company's U.S. rail business while piling on costs elsewhere. New protectionist measures, including a 25 percent duty on imports of steel from some countries to the United States, have sent domestic prices soaring, a boon for local producers. While Evraz's facilities in Portland, Oregon, use imported steel slabs from Russia, to which duties apply, its rail division in Pueblo, Colorado, supplies its own steel, and has become an unlikely winner.
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