|Bid||60.74 x 100|
|Ask||61.53 x 100|
|Day's Range||64.90 - 69.50|
|52 Week Range||51.67 - 70.48|
|PE Ratio (TTM)||16.72|
|Earnings Date||Apr 18, 2018 - Apr 23, 2018|
|Forward Dividend & Yield||1.52 (2.22%)|
|1y Target Est||73.15|
Alan Tonelson, RealityChek founder, discusses how proposed steel and aluminum tariffs could impact steel producer stocks.
The U.S. Commerce Department has recommended that President Donald Trump impose steep curbs on steel and aluminum imports from China and other countries ranging from global and country-specific tariffs to broad import quotas, according to proposals released on Friday. The long-awaited unveiling of Commerce's "Section 232" national security reviews of the two industries contained global tariff options of at least 24 percent on all steel products from all countries, and at least 7.7 percent on all aluminum products from all countries.
Nucor Corp. CEO John Ferriola welcomed a U.S. Department of Commerce recommendation Friday for steep steel import tariffs — possibly as high as 53% for a dozen specified countries, including China. Ferriola has been among the metals manufacturers calling strongly for trade restrictions on foreign imports, contending China and other countries were unfairly dumping subsidized steel into U.S. markets.
A federal judge has approved a settlement in a class-action lawsuit involving Charlotte-based steel company Nucor Corp. that dates back some 15 years. The Post & Courier in Charleston, S.C., reports the $22.5 million settlement, approved Thursday by U.S. District Court Judge David Norton, means workers at a Nucor (NUE) steel mill there who claimed they were subjected to racial discrimination will receive payouts of at least $100,000 each . "A lawsuit alleging employment and equal rights violations originally was filed in 2003 against Nucor mills in Arkansas, Alabama, South Carolina and Texas.
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.
U.S. President Donald Trump said on Tuesday he was considering a range of options to address steel and aluminium imports that he said were unfairly hurting U.S. producers, including tariffs and quotas. Trump's comments - his strongest signal in months that he will take at least some action to restrict imports of the two metals - came in a meeting with a bipartisan group of U.S. senators and representatives at the White House.
U.S. President Donald Trump said on Tuesday he was considering a range of options to address steel and aluminum imports that he said were unfairly hurting U.S. producers, including tariffs and quotas. Trump's comments - his strongest signal in months that he will take at least some action to restrict imports of the two metals - came in a meeting with a bipartisan group of U.S. senators and representatives at the White House. Some of the lawmakers urged him to act decisively to save steel and aluminum plants in their states, but others urged caution because higher prices would hurt downstream manufacturers that consume steel and aluminum.
Earlier this week, ArcelorMittal (MT), the world’s largest steel producer, announced that it would bid for the stressed assets of Indian steel company Essar Steel (EPI). The announcement came after a couple of other acquisitions by ArcelorMittal. Last year, a consortium led by ArcelorMittal reached a binding agreement to buy the Ilva steel plant in Italy.
President Donald Trump unveiled a much-anticipated, $1.5-trillion infrastructure plan intended to “address unmet rural infrastructure needs, empower state and local authorities and train the American workforce ...