|Bid||0.00 x 1100|
|Ask||0.00 x 1200|
|Day's Range||29.81 - 30.80|
|52 Week Range||25.03 - 42.22|
|Beta (3Y Monthly)||1.86|
|PE Ratio (TTM)||6.51|
|Earnings Date||Oct 16, 2019|
|Forward Dividend & Yield||0.96 (3.41%)|
|1y Target Est||33.36|
Will President Trump lift the steel tariffs like President Bush? President Trump's steel tariffs will likely remain due to his support base.
Moody's Investors Service ("Moody's") upgraded Steel Dynamics Inc.'s (SDI) senior unsecured ratings to Baa3 from Ba1. "The upgrade to Baa3 acknowledges SDI's consistent ability to demonstrate good performance through various industry cycles, particularly down cycles and be free cash flow generative over a number of years (before share repurchases and acquisitions, which have been accommodated through the company's strong cash position" said Carol Cowan, Senior Vice President and lead analyst for SDI. At the same time, Moody's withdrew the company's Ba1 Corporate Family Rating, the Ba1-PD Probability of Default rating and the SGL-1 Speculative Grade Liquidity Rating following the company's upgrade to Baa3 as per the rating agency's practice for corporates with investment grade ratings.
U.S. Steel announced a new organizational structure and operating model. Will the company's latest transformational steps help it tide the weak market?
Now weak pricing for the metal and lackluster profits for the companies are shaking up management teams. Both (X) (ticker: X) and (TMST) (TMST) announced big management changes Wednesday. At (X)—one of the relatively few, older companies with a single-letter stock ticker—there is a new chief financial officer, not to mention new heads for strategy and manufacturing and a chief commercial officer, for sales.
Steel Dynamics (STLD) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Moody’s turned bearish on the US steel sector and downgraded the sector’s outlook from stable to negative. However, US steel stocks have been largely stable.
(Bloomberg) -- With its midyear recovery already in doubt, the American steel industry now has a little more to worry about with each passing day a strike drags on at General Motors Co.Analysts at UBS Group AG remain cautious on domestic steelmakers such as U.S. Steel Corp., arguing in a report that the market likely has weakened since producers provided worse-than-expected guidance last month. Compounding the concern is the GM strike because the automaker represents roughly 5% of annual steel demand in the U.S.“Kind of the way to think about it is each day GM isn’t producing cars is one more step towards that roughly 5% of annual demand,” Cleve Rueckert, an analyst at UBS, said Monday in a phone interview.Optimism has been fading for steelmakers more than a year after the introduction of tariffs meant to bolster the industry. The U.S. trade actions encouraged companies to expand capacity by investing in new mills or upgrading aging assets, leading to fears of oversupply. Despite the hope in July that new steel-price gains may stick, faltering economic growth and U.S.-China trade tensions have dented prospects for the metal.A S&P gauge of steelmakers has tumbled 8.6% since the GM strike took effect on Sept. 16.Domestic hot-rolled coil, the benchmark steel price, is down about 39% in the past 12 months, and is near the lowest price since 2016. Meanwhile, U.S. Steel has fallen 63% in the past year, AK Steel Holding Corp. has dropped 53%, Steel Dynamics Inc. has lost 38%, while U.S. industry leader Nucor Corp. is down 23%.“Right now we’re struggling to find positive catalysts to support steel prices,” UBS’s Andreas Bokkenheuser, who co-authored the report with Rueckert, said by phone.(Adds decline S&P steel equities gauge in fifth paragraph.)\--With assistance from Aoyon Ashraf.To contact the reporter on this story: Joe Deaux in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Steven Frank, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
FORT WAYNE, Ind. , Oct. 4, 2019 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD) one of the largest domestic steel producers and metals recyclers in the United States , today announced it intends ...
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
US Steel said Tuesday it had reached an agreement to buy a minority stake in Big River Steel, with an option to take complete control over the next four years, in a deal that could ultimately be valued at more than $2 billion.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Steel Dynamics, Inc. New York, September 30, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Steel Dynamics, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Preliminary data showed that US steel imports fell sharply in August after the spike in July. However, falling imports haven't restored investor sentiments.
JPMorgan Chase analyst Michael Gambardella downgraded US steel stocks. Gambardella had been bullish on US steel stocks even when Wall Street turned bearish.
AK Steel is up slightly on J.P. Morgan's double downgrade in a report that warns about uncertainties facing the steel industry.
Analysts at J.P. Morgan cut their price target on the stock following last week's profit warning the company linked to weakening global demand.
Two factors increasing the chance of that were the overall reaction from the Fed's action, a buyback from Target Corporation (NYSE: TGT) and a dividend raise and buyback by the S&P 500 index top component Microsoft Corporation (NASDAQ: MSFT). The impact of the former CEO of Overstock.com Inc (NASDAQ: OSTK) dumping all of his shares was discussed. United States Steel Corporation (NYSE: X) followed the lead of Steel Dynamics, Inc. (NASDAQ: STLD) in lowering third-quarter guidance, and it was deep in the red in premarket trading.
Cleveland-Cliffs (CLF) and its US steel peers are on a roller-coaster ride in 2019. CLF fell 25.5% in August alone. Year-to-date, it's up 6.4%.
This week, three leading US steel companies provided their third-quarter earnings guidances. All these guidances were lower than analysts were expecting.
United States Steel Corporation (NYSE: X) became the latest to warn of worsening fundamentals when it made a third-quarter pre-announcement late Wednesday. After the strength witnessed in the summer, the flat-rolled steel market has softened, U.S. Steel said. U.S. Steel now expects full-year flat-rolled shipments to third-party customers to be 10.7 million tons, as it expects to idle two of its U.S. blast furnaces to match supply with demand forecasts.
Disappointing guidance from some of the major U.S. steel makers has raised worries about a possible weak Q3 earnings season for the U.S. steel industry.
The company guided investors to third-quarter earnings of about 68 cents a share, below Wall Street’s guess of 72 cents. Normally guiding below the consensus estimate would be a negative, but Steel Dynamics stock rose at the open and was recently down 1.1%. KeyBanc analyst Philip Gibbs is the low man on the Street with a 60-cent third-quarter estimate.
Steel Dynamics, Inc. (NASDAQ: STLD ) issued third-quarter earnings guidance Tuesday in the range of 66 to 70 cents per diluted share vs. a Street estimate of 71 cents. The company said it expects third-quarter ...