|Bid||47.51 x 800|
|Ask||47.52 x 800|
|Day's Range||46.91 - 47.67|
|52 Week Range||32.20 - 52.10|
|PE Ratio (TTM)||13.60|
|Earnings Date||Jul 17, 2018 - Jul 23, 2018|
|Forward Dividend & Yield||0.75 (1.48%)|
|1y Target Est||53.93|
Indicators of macroeconomic and market conditions in both the United States and Poland suggest economic growth and robust long steel product demand, which bodes well for Commercial Metal (CMC).
Is the Worst Over for US Steel Stocks? Commerce Secretary Wilbur Ross has expressed concern over rising steel prices in the United States. On June 20, Ross told the Senate Finance Committee that “there has been a lot of speculative activity, storing inventory, [and] withholding product from the market by various intermediary parties, so the price of steel, and for a while the price of aluminum, went up far more than is justified by the tariffs,” according to S&P Global Platts.
As noted previously, some brokerages have downgraded steel stocks this month, despite surging US steel prices. As of June 19, AK Steel (AKS) and ArcelorMittal (MT) had fallen this year, while U.S. Steel Corporation (X) was trading flat and Nucor (NUE) had gained 3.6%. Meanwhile, while bears have been warming up to steel stocks (XME), steel bulls have taken a backseat. Let’s see why.
Steel stocks fell yesterday, with U.S. Steel Corporation (X) and AK Steel (AKS) falling 2.7% and 2.0%, respectively, Nucor (NUE) falling 1.9%, and Steel Dynamics (STLD) falling 2.0%. The Dow Jones Industrial Average (DIA) fell 1.1%. US steel stocks are having a tough time this year despite Section 232 tariffs lifting benchmark hot rolled coil prices to a decade high.
To sum it up, both Nucor (NUE) and Steel Dynamics (STLD) expect their second-quarter earnings to more than double on a YoY (year-over-year) basis. U.S. Steel Corporation (X) and AK Steel (AKS) are also expected to post a YoY rise in their second-quarter earnings. To be sure, two things are at play in steel companies’ second-quarter earnings.
Previously in this series, we’ve looked at Nucor’s (NUE) and Steel Dynamics’ (STLD) second-quarter earnings guidance. In this article, we’ll look at some recent analyst assessments.
Since hitting a low of $19.65 on April 5, shares of Commercial Metals Company (NYSE: CMC ) have gained about 23 percent, prompting Bank of America Merrill Lynch to revisit its rating on the equity. The ...
In the previous article, we noted that AK Steel’s (AKS) second-quarter revenue estimates look conservative when looking at the company’s guidance. US steel prices are hovering at multiyear high levels. Higher steel prices and stable steel scrap prices are expected to boost the earnings of US steelmakers like Nucor (NUE) and Steel Dynamics (STLD) in the second quarter and beyond.
In this article, we’ll look at Steel Dynamics’ (STLD) second-quarter earnings guidance. Steel Dynamics expects to post EPS of $1.46–$1.50 in the second quarter.
US steel stocks were among the biggest gainers in 2016, as Donald Trump’s election helped fuel a rally on expectations of higher demand and supportive trade policies. President Trump has delivered on his pre-election pledge of saving the US steel industry.
Steel Dynamics (STLD) expects earnings to increase both year-over-year and sequentially in Q2 on higher profitability from its steel operations.
In this article, we’ll look at steel companies’ 2018 EBITDA estimates. US-based steel producer Nucor (NUE) is expected to post adjusted EBITDA of $3.6 billion this year, compared with $2.6 billion last year. Interestingly, while analysts expect Nucor’s EBITDA to rise sequentially in the second quarter, they are expected to be largely flat in the third and fourth quarters.
Shares of Steel Dynamics Inc. surged 3.2% in premarket trade Friday, after the steel producer provided second-quarter earnings-per-share guidance that was above expectations. The company said earnings are expected to rise from last year because of increased steel shipments and metal spread expansion. Average quarterly product pricing is expected to increase more than scrap costs, as prices have improved as a results of strong domestic steel demand.
Second quarter 2018 profitability from the company's steel operations is expected to be meaningfully higher than sequential first quarter results, based on increased steel shipments and metal spread expansion. Average quarterly steel product pricing is expected to increase more than scrap costs, as steel pricing across the platform has improved throughout the second quarter 2018, supported by strong domestic steel demand. Profitability has improved throughout the steel platform, although the increase is primarily driven by the company's sheet operations. Based on strong steel demand fundamentals and customer optimism, the company believes steel consumption and market dynamics will remain strong throughout the year.
As noted previously, the spreads between US and international steel prices have widened to record highs this year after outsized gains in US steel prices. In this article, we’ll look at the spreads between steel and steel scrap prices and see how they could affect US steel companies’ profitability.
In March, Donald Trump imposed a 25% tariff on steel imports after the US Commerce Department found that steel imports may be a threat to US national security. A separate probe also found that aluminum imports may be a threat.
It hasn't been a smooth ride for steel stocks this year, but Steel Dynamics (STLD) had been one of the winners, rising more than 12% year to date. Gibbs lowered Steel Dynamics to Sector Weight from Overweight, removing his price target. Although he raised his full year demand outlook for steel and his price forecast, which led him to raise his estimates for a number of steel stocks in his coverage, he nonetheless writes that the downgrade is based on valuation.