|Bid||57.51 x 1300|
|Ask||58.39 x 1300|
|Day's Range||58.00 - 58.90|
|52 Week Range||53.71 - 70.48|
|Beta (3Y Monthly)||1.66|
|PE Ratio (TTM)||11.19|
|Earnings Date||Oct 17, 2018 - Oct 22, 2018|
|Forward Dividend & Yield||1.52 (2.57%)|
|1y Target Est||76.62|
The US steel industry got a major reprieve after President Donald Trump slapped Section 232 tariffs on US steel imports. AK Steel (AKS) and Cleveland-Cliffs (CLF) praised the tariffs. But even after the tariffs, US steel companies may still be looking to the Trump administration for support.
Cleveland-Cliffs (CLF) released its third-quarter earnings today before the markets opened. Its revenue came in at $741.8 million, which was 24.3% higher YoY (year-over-year), beating analysts’ estimate of $732 million according to the consensus compiled by Thomson Reuters. In its second-quarter results, it beat the consensus estimate.
In March, President Donald Trump imposed a 25% tariff on US steel imports, acting on the United States Department of Commerce’s Section 232 investigation. With the tariffs, the US steel industry’s capacity utilization rate was expected to rise above 80%.
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.
U.S. levies on the other countries’ steel and aluminum imports remain in effect, as do Canadian and Mexican retaliatory tariffs. John Ferriola, chief executive officer of Nucor Corp., said during an earnings call with analysts on Thursday that quotas of some kind may replace tariffs for Canada, Mexico and other countries.
Charlotte-based Nucor Corp. is eyeing $1.4 billion in capital spending for 2019, which would exceed the current record of $1.2 billion set in 2013.
Shares of the largest steel producer in the United States fell as much as 3.7 percent to $56.91, as a dip in steel shipments from the second quarter put investors on alert that the market may be oversupplied. Nucor posted a profit that nearly tripled in the third quarter as a strong economy and the 25-percent tariff imposed in March boosted shipments and drove prices for its steel 23 percent higher. The imposition of the tariffs on steel imports raised futures prices for U.S. hot-rolled coil steel (.HRCc1) from $660 a ton in January to $924 at the start of June, but they have since fallen back to $834.
Nucor Corp posted a quarterly profit short of analysts' forecasts on Thursday and investor concerns that the U.S. steel market may be grappling with oversupply, undermining President Donald Trump's tariffs on imported steel, sent the company's shares lower. Shares of the largest steel producer in the United States fell as much as 3.7 percent to $56.91, as a dip in steel shipments from the second quarter put investors on alert that the market may be oversupplied. Nucor posted a profit that nearly tripled in the third quarter as a strong economy and the 25-percent tariff imposed in March boosted shipments and drove prices for its steel 23 percent higher.
Is the Sell-Off in US Steel Stocks Overdone? As we’ve already seen in this series, there’s been a sell-off in US steel stocks, including Nucor (NUE), U.S. Steel Corporation (X), and AK Steel (AKS). In the previous part, we looked at some of the domestic factors that could be making investors bearish on US steel stocks (XME).
US steel stocks are having a terrible month, which has added to their woes. U.S. Steel Corporation (X) and AK Steel (AKS) have fallen 7.5% and 1.8%, respectively, this month. Nucor (NUE) has shed 6.9% of its market capitalization this month. Let’s look now at the various factors that are driving the recent slump in steel stocks.
Nucor's (NUE) steel mills unit performed impressively in Q3 but earnings missed expectations. It expects Q4 earnings to decrease across all three operating segments sequentially.
Nucor Corp. CEO John Ferriola says strong earnings in the third quarter keep the company on track for a record year.
US steel stocks, which have been subdued for the last few months, have seen fresh selling pressure this month. Earlier this week, Credit Suisse downgraded US steel stocks from “overweight” to “equal weight.” Several other brokerages have also taken a bearish view of US steel stocks.
Nucor (NUE) delivered earnings and revenue surprises of -0.85% and 3.43%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
Nucor steel mill's shipments increased 7 percent in the quarter, while sales to external customers rose 6 percent from a year earlier. Net sales rose to $6.74 billion from $5.2 billion, beating estimates of $6.63 billion.
The Charlotte, North Carolina-based company said it had profit of $2.13 per share. Earnings, adjusted for one-time gains and costs, were $2.33 per share. The results missed Wall Street expectations. The ...
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.
CHARLOTTE, N.C. , Oct. 18, 2018 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced third quarter of 2018 consolidated net earnings of $676.7 million , or $2.13 per diluted share. Included in ...
Nucor Corporation (NYSE: NUE ) announces its next round of earnings this Thursday, Oct. 18. Here is Benzinga's everything-that-matters guide for the Q3 earnings announcement. Earnings and Revenue Based ...
The latest project enables AK Steel (AKS) to explore new low-density steels that can be used in automotive structural applications.
Analysts’ EBITDA estimates reflect their expectations for a company’s future profitability. Analysts usually derive these estimates from revenue projections, margin assumptions, or cost projections.