27.17 0.00 (0.00%)
After hours: 4:18PM EDT
|Bid||26.50 x 1000|
|Ask||0.00 x 800|
|Day's Range||26.90 - 27.29|
|52 Week Range||26.90 - 37.50|
|Beta (3Y Monthly)||2.94|
|PE Ratio (TTM)||5.25|
|Earnings Date||Feb 21, 2017 - Feb 27, 2017|
|Forward Dividend & Yield||0.10 (0.35%)|
|1y Target Est||43.27|
Cleveland-Cliffs (CLF) released its third-quarter earnings before the markets opened on October 19. The company’s management held a conference call with analysts on the same day.
AK Steel (AKS) is slated to release its third-quarter earnings on October 25. The company is scheduled to hold its earnings call on October 26. U.S. Steel Corporation (X) and ArcelorMittal (MT) are expected to release their third-quarter earnings on November 1. In this part, we’ll look at the key updates that markets will likely watch in AK Steel’s third-quarter earnings call.
said it has been selected as the preferred bidder by creditors of Essar Steel India Ltd., or ESIL, which is in insolvency proceedings. Luxembourg-based ArcelorMittal, one of the world’s largest steelmakers, said in a news release that it was informed of the decision by the creditors committee for the Indian company. ArcelorMittal said it would enter into further final negotiations with the committee.
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.
FRANKFURT/DUESSELDORF (Reuters) - ArcelorMittal (MT.AS), the world's largest steelmaker, has declared force majeure for its Duisburg-Ruhrort site in Germany due to the Rhine river's low water levels, a spokesman for the group said in e-mailed comments on Monday. "The currently low water level of the Rhine means that the company has adjusted production in Ruhrort to reflect lower pig iron supplies from Thyssenkrupp (TKAG.DE)," the spokesman said. The move follows Thyssenkrupp's declaration of force majeure on Friday.
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.
Is the Sell-Off in US Steel Stocks Overdone? To sum it up, concerns over China’s slowdown and falling steel prices have been playing heavily on investors’ minds. U.S. Steel Corporation (X) and AK Steel (AKS) have fallen 19.7% and 15%, respectively, this year.
Arcelor, controlled by billionaire Lakshmi Mittal, will now begin final negotiations with creditors, the Luxembourg-based producer said in a statement. The move by lenders comes after Arcelor on Wednesday agreed to clear about 74.69 billion rupees ($1 billion) in outstanding dues of two of its group companies to become eligible to bid for Essar.
Navdeep Bains announced on Friday funding of up to C$49.9 million ($38 million), a mix of grants and loans, as part of a C$205 million modernization project at the Hamilton, Ontario plant of the Luxembourg-based steelmaker’s Canadian unit, ArcelorMittal Dofasco. It’s the first announcement from a C$250 million fund unveiled earlier this year to support steel, aluminum and manufacturing companies affected by the tariff standoff, Bains said, and more are coming.
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
ArcelorMittal (MT) fell 2.92% to $27.90 per share on the New York Stock Exchange Thursday on the publication of sell-side analyst forecasts for its third-quarter Ebitda. The forecast - which is an average of 20 estimates - represents a 6.6% increase from the previous quarter and 68% growth from the prior-year quarter. Warning! GuruFocus has detected 1 Warning Sign with MT.
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.
18 October 2018 - ArcelorMittal today announces the publication of second quarter and first half 2018 EBITDA sell-side analysts’ consensus figures. The consensus figures are.
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.
Cleveland-Cliffs (CLF) generated FCF of $182 million in 2017, which mostly went toward enhancing its core business, including its acquisition of the remaining minority interest in both the Tilden and Empire mines. According to the consensus compiled by Thomson Reuters, analysts expect Cliffs to generate FCF of $194 million in 2018, which implies growth of 6.5% YoY (year-over-year).
Cleveland-Cliffs (CLF) has come a long way with respect to its debt levels. The company’s change in management in 2014 and its focus on debt reduction have somewhat allayed investors’ concerns. During the Q2 2018 earnings call, Cleveland-Cliffs maintained that bringing its net debt below $1 billion is its second priority, after the focus on the HBI (hot-briquetted iron) plant.
ArcelorMittal will clear overdue debt of steel firm Uttam Galva Steels and oil and gas pipeline construction services provider KSS Petron, two companies in which the world's largest steelmaker held stakes until earlier this year. The move comes two weeks after India's top court said ArcelorMittal's bid for Essar Steel would become valid only if the acquirer cleared outstanding debt of Uttam Galva Steels and KSS Petron.
Wall Street analysts expect Cleveland-Cliffs (CLF) to generate revenue of $731 million in the third quarter, which implies a rise of 4.7% YoY (year-over-year). This expectation is the result of the company’s guidance for higher volumes along with higher spot HRC (hot-rolled coil) prices prevailing in the market compared to last year’s corresponding period. As we discussed earlier in this series, CLF expects higher volumes in the third quarter.
17 October 2018 – ArcelorMittal (‘the Company’) announces that, in-line with the Indian Supreme Court ruling dated 4 October 2018, it has approved a payment of 7,469 crore rupees (c. $1 billion) to the financial creditors of Uttam Galva and KSS Petron to clear overdue debts in order that the offer it submitted for Essar Steel India Limited (‘ESIL’) on 2 April 2018 is eligible and can be considered by ESIL’s Committee of Creditors (‘CoC’). ArcelorMittal’s Board of Directors believes that ESIL represents a unique and compelling opportunity for the Company to establish a significant footprint, with substantial expansion potential, in the high-growth Indian steel market.
MADRID (Reuters) - A fire broke out at an ArcelorMittal factory in northern Spain on Tuesday, prompting an evacuation but causing no injuries, the world's largest steel producer said on Twitter. Fire services ...
Cleveland-Cliffs (CLF) stock has received six upgrades (including initiations) and just one downgrade in 2018 so far.
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.
Corp. struck a tentative agreement for a new labor contract covering at least 14,000 workers, breaking a three-year wage freeze. On a company website dedicated to the negotiations, U.S. Steel touted increases in base wages over a six-year term.