20.63 0.00 (0.00%)
After hours: 7:23PM EST
|Bid||0.00 x 800|
|Ask||20.97 x 800|
|Day's Range||20.29 - 20.97|
|52 Week Range||17.09 - 47.64|
|Beta (3Y Monthly)||3.53|
|PE Ratio (TTM)||5.40|
|Earnings Date||Jan 30, 2019|
|Forward Dividend & Yield||0.20 (0.95%)|
|1y Target Est||32.50|
Mon Valley residents are still advised to take precautions outdoors due to sulfur dioxide emissions in exceedence of federal standards.
# United States Steel Corp ### NYSE:X View full report here! ## Summary * Perception of the company's creditworthiness is negative but improving * ETFs holding this stock are seeing positive inflows * Bearish sentiment is moderate and increasing * Economic output in this company's sector is contracting ## Bearish sentiment Short interest | Neutral Short interest is moderate for X with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on January 11. ## Money flow ETF/Index ownership | Positive ETF activity is positive but appears to be weakening. Over the last month, growth of ETFs holding X is favorable, with net inflows of $6.64 billion. This is among the highest periods of net inflows seen over the last one-year, but the rate of additional flows appears to be decreasing. ## Economic sentiment PMI by IHS Markit | Negative According to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. ## Credit worthiness Credit default swap | Negative The current level displays a negative indicator with a strengthening bias over the past 1-month. Although X credit default swap spreads are decreasing, they are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness. Please send all inquiries related to the report to firstname.lastname@example.org. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
China’s Trade Surplus Surges Higher under Trump’s Watch(Continued from Prior Part)ChinaChina (FXI) exported 5.56 million metric tons of steel in December, a yearly fall of 1.9%. However, exports rose 4.5% on a month-over-month basis. China’s
Deckers, United States Steel, Netflix and Roku highlighted as Zacks Bull and Bear of the Day
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
In this article, we’ll do a comparative analysis of steel companies’ valuations based on forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization). U.S. Steel (X) has a forward EV-to-EBITDA of 2.9x its 2019 consensus EBITDA and 3.4x its 2020 consensus EBITDA. The stock’s forward valuation multiples are the lowest among the steel stocks that we’re covering in this series.
CLF: Why Jim Cramer Is Worried about This 'Best-in-Show' Stock ## Jim Cramer: CLF is ‘Best-in-Show’ company Yesterday, Jim Cramer, the Mad Money host, answered caller’s questions regarding Cleveland-Cliffs (CLF) stock. He said, “The company’s best in show, but I’ve got to tell you, the stock is not going to be a good stock if the Fed tightens again. I don’t think they’re going to in the near future, but I’ve got to tell you, it makes me nervous.” ## Fed’s rate hike chances bleak On January 4, Fed Chair Jerome Powell said that the Fed could be more patient with its policy stance if needed. Yesterday, he again stressed that the Fed could be patient while approving further hikes, as it continues to monitor the gauges of the US economy (SPY). These two back-to-back appearances from the Fed chair with dovish statements have assured markets that the Fed will not take any surprise action on rate hikes. The markets have been quite relieved with this stance from the Fed as well as from the recently concluded US-China trade talks. ## Cleveland-Cliffs’ fundamentals While Cleveland-Cliffs stock rose by 6.7% in 2018, it plunged 39% in the last quarter alone. This, however, had more to do with the overall risk-off sentiment and the slowdown concerns of China rather than anything related to CLF itself. As compared to CLF’s positive price action, its US peers (DIA) (IVV), AK Steel (AKS), U.S. Steel (X), ArcelorMittal (MT), Steel Dynamics (STLD), and Nucor (NUE) reported returns of -60%, -48%, -36%, -30%, and -18%, respectively, for 2018. Cleveland-Cliffs’ fundamentals have been improving since its new management took over in 2014. Its non-core assets have sold off with the seaborne operations being the last, which took a lot of volatility out of the stock. Its debt concerns have been laid to rest. Moreover, the company is solidly marching on its growth path with the ongoing construction of an HBI (hot briquetted iron) plant. As we argued in Why Now Might Be a Good Time to Look Again at Cleveland-Cliffs, CLF is attractively valued based on its multiple relative to its peers and its historical valuation. See Revisiting the Case: How Does Cleveland-Cliffs Look Now? for an in-depth analysis of CLF’s fundamentals and valuations.
# United States Steel Corp ### NYSE:X View full report here! ## Summary * Perception of the company's creditworthiness is negative but improving * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low and declining * Economic output in this company's sector is contracting ## Bearish sentiment Short interest | Positive Short interest is low for X with fewer than 5% of shares on loan. Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on January 9. ## Money flow ETF/Index ownership | Positive ETF activity is positive. Over the last month, growth of ETFs holding X is favorable, with net inflows of $10.81 billion. This is among the highest net inflows seen over the last one-year and the rate of additional inflows appears to be increasing. ## Economic sentiment PMI by IHS Markit | Negative According to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. ## Credit worthiness Credit default swap | Negative The current level displays a negative indicator with a strengthening bias over the past 1-month. Although X credit default swap spreads are decreasing, they are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness. Please send all inquiries related to the report to email@example.com. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## China’s slowdown China is the world’s largest steel producer, consumer, as well as exporter. Over the last few months, we’ve seen a flurry of soft economic data from China (FXI). From the perspective of steel companies (MT), the slowdown has been quite significant in the real estate and automotive sectors, which happen to be the two largest steel end consumers. ## Stimulus While China has been talking about monetary and fiscal policy initiatives to lift its economy, it has shied away from stimulus for the housing and automotive sectors. As for the housing sector, it seems quite unlikely that China would look at a specific package, as the country has been trying to address property speculation. However, a relief package for the automotive sector might still be expected. In 2015 also, China had lowered its purchase tax on cars to provide a boost to sagging vehicle sales. The purchase tax was gradually increased and was restored at the original level of 10% last year. ## Demand As Chinese steel demand has faltered, Chinese steel prices have come under pressure. Falling Chinese steel prices have had a domino effect on global as well as US steel prices. Now, while China’s slowdown is a known factor, the steps taken by China to bolster its economy could drive steel prices this year. Investors in US steel and iron ore companies like U.S. Steel (X), AK Steel (AKS), and Cleveland-Cliffs (CLF) should closely follow the policy steps taken by the Chinese government including its supply-side reforms. Meanwhile, even with the known headwinds, US steel stocks might look attractive from a valuation standpoint. We’ll discuss this more in the next and final article. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 3 - What Should US Steel Investors Watch Out for in 2019?
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## Steel tariffs Last year, President Trump imposed a 25% tariff on US steel imports that helped lift US steel prices to multiyear highs. The Trump administration has already granted Section 232 exemptions to some countries including Brazil and South Korea. The United States renegotiated its trade deal with South Korea last year. ## Negotiation tactic The Trump administration has indicated that Section 232 tariffs have helped bring other countries to the negotiating table. Section 232 exemptions could be extended to other countries also, as the Trump administration moves forward on new trade deals. While the Section 232 exemptions could be negative for US steel companies like U.S. Steel (X), AK Steel (AKS), and Nucor (NUE), we should remember that Trump has stood firm on his support to the US steel industry (SPY). ## Quotas While South Korea has been granted a long-term exemption from the Section 232 tariffs, the country agreed to a quota to get the exemption. In the case of Canada and Mexico, while the countries have agreed to the new USMCA, they are still covered under Section 232 tariffs. The Trump administration has been pushing for quotas below the current level of imports. As some countries like Canada haven’t agreed to quotas, they haven’t been granted Section 232 exemptions even after a new trade deal. This year, we could see the Trump administration move forward on some new trade deals. We could see quotas be imposed for Section 232 exemptions. US steel companies wouldn’t mind the exemptions much if the quotas are reasonably below the current import levels. China’s slowdown could be another key driver for US steel and iron ore companies this year. We’ll discuss this in detail in the next article. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 3 - What Should US Steel Investors Watch Out for in 2019?
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## Steel oversupply Some observers have pointed out that US steel markets could witness oversupply that could depress prices. To be sure, we saw a plant restart by U.S. Steel (X) last year. Nucor (NUE) and Steel Dynamics (STLD) have announced a slew of new projects that would add to US steel production capacity. But are US steel markets staring at an oversupply situation? Let’s discuss this in perspective. ## Section 232 tariffs To be sure, US steel production has been on an uptrend after President Trump imposed Section 232 tariffs in March. Last year, US steel production rose 6.2% year-over-year. In absolute terms, US steel production rose ~5.5 million tons. The calculations are based on the American Iron and Steel Institute’s weekly steel production data until December 29. Meanwhile, while US steel production has risen, it has been accompanied by falling imports. According to the Census Bureau’s final data, US steel imports fell by 3.2 million tons in the first nine months of 2018 as compared to the corresponding period in 2017. Preliminary data showed a small rise in October imports. Imports likely fell in November and December as well. However, the November steel imports data is yet to be published due to the government shutdown. Nonetheless, as of now, higher steel production doesn’t seem to be a problem for US steel markets (AKS), as it’s leading to import substitution. However, if the Section 232 tariff is watered down, we could see an increase in imports. We’ll discuss this in detail in the next article. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 3 - What Should US Steel Investors Watch Out for in 2019?
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## US steel investors 2019 has started on a positive note for US steel stocks like U.S. Steel (X), Nucor (NUE), and AK Steel (AKS). In this article, we’ll see what US steel investors should watch out for this year after a strong start to the year. ## Domestic factors The demand-supply equation could be a key driver of US steel prices (MT). Over the last couple of months, US steel demand indicators, particularly from the housing and automotive sectors, have shown signs of moderating growth. On the supply side, US steel production has been on an uptrend on domestic capacity restarts. So far, incremental supply hasn’t negatively impacted the supply situation, as it has been accompanied by a fall in imports. However, it will be crucial to see how the imports situation unfolds this year. ## China Steel investors (CLF) are also closely watching China’s slowdown. Chinese steel prices came under pressure last year amid weak demand from the real estate and automotive sectors. The steps taken by the Chinese government to arrest the growth slowdown could impact Chinese as well as US steel prices. This year, we could see the Trump administration move forward on new trade deals. This could also mean Section 232 exemptions for more countries. From steel companies’ perspective, it would be crucial that the exemptions are accompanied with a quota. Finally, Trump’s policies on the proposed infrastructure investments could be a key driver for steel companies this year. We’ll discuss these drivers in detail in the coming articles. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 4 - Are Steel Oversupply Concerns Unfounded?
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? As noted in the previous article, steel stocks are having a strong run in 2019. Last year, steel stocks had a terrible time and U.S. Steel (X) and AK Steel (AKS) fell 48.2% and 60.2%, respectively.
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? ## Steel companies’ 2019 outlook US steel companies are having a good run so far in 2019. Steel stocks that fell sharply last year have seen upwards price action in the first week of 2019. U.S. Steel (X) and AK Steel (AKS) have risen 13.5% and 19.5% YTD, respectively, based on their closing prices on January 8. Nucor (NUE) and Steel Dynamics (STLD), which seem to be set for record 2018 earnings, have seen an upwards price action of 6.6% and 9.6% so far. Cleveland-Cliffs (CLF), which supplies iron ore to US steel companies, is up 11.3%. ## Broader markets So far steel stocks are outperforming broader equity markets (SPY). In December 2018, steel stocks hit their 52-week lows amid the plunge in broader markets. So, is the current uptrend sustainable, or are the gains a typical dead cat bounce that we see in beaten-down stocks? We’ll discuss this question in detail in this series. We’ll also do a detailed analysis of steel companies’ 2019 outlook, which could help us understand what lies ahead for the sector. ## President Trump Meanwhile, President Trump’s love for steel has continued in 2019 as well. Last year, Trump imposed tariffs on US steel imports that helped catapult US steel prices to multiyear highs. Now, Trump is proposing that the wall on the Mexican border could be made of steel, which could potentially lift US steel demand by ~3 million tons according to the American Iron and Steel Institute. Continue to Next Part Browse this series on Market Realist: * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 3 - What Should US Steel Investors Watch Out for in 2019? * Part 4 - Are Steel Oversupply Concerns Unfounded?
The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of Macy's M . Karen Finerman was a buyer of Foot Locker FL . Brian Kelly was a buyer of United States Steel X .
PITTSBURGH, Jan. 08, 2019 -- United States Steel Corporation (NYSE: X) announced today that interested stockholders, investors and others may listen to the company’s fourth.
President Trump wants to secure our southern border using structures made of steel. The stock is in bear market territory 24.2% below its Jan. 12, 2018 high of $70.48. The stock is in bear market territory, 25.7% below its May 31, 2018 high of $97.41.
December was a very bad month for U.S. steelmakers, even though the good times aren't over just yet.
Why US Steel Companies Want Trump’s Wall and Bridges ## US steel companies President Trump is scheduled to deliver a speech tonight about the Mexican border wall. President Trump tweeted that the Mexican border wall could be a “Steel Barrier rather than concrete.” According to Platts, citing the American Iron and Steel Institute, the steel barrier could require ~3 million short tons of steel. We should remember that the figure represents close to 3% of the annual US steel demand. ## Price action US steel companies have looked strong in 2019. Steel stocks had a dismal 2018 despite companies like Nucor (NUE) posting record earnings. Other US steel companies like U.S. Steel Corporation (X) and AK Steel (AKS) benefited from higher steel prices in 2018. Cleveland-Cliffs (CLF), which supplies iron ore to US steel companies, also benefits from strong steel prices (DIA). US steel stocks rose after President Trump’s election in 2016. He vowed to protect US manufacturing from the onslaught of imports. President Trump talked about massive infrastructure investments during his campaign. From steel companies’ perspective, President Trump has already imposed tariffs on imported steel. However, infrastructure investments haven’t materialized. ## Steel demand US steel companies crave President Trump’s wall and bridges to boost US steel demand. The housing and automotive sectors are both leading steel end users. The sectors have shown signs of moderating growth. Steel prices have also been weak globally. US steel companies might require President Trump’s support in the form of tariffs and infrastructure investments. While the tariffs are already in place, markets fear that they might get watered down as the Trump Administration signs new trade deals. Steel stocks might surprise on the upside in 2019. Read Why Metals and Mining Stocks Have Been a Falling Knife for a closer look at steel’s 2019 outlook.
U.S. stock index futures pointed to a third consecutive day of gains for Wall Street on Tuesday, lifted by expectations that the United States and China would strike a deal to end their months-long trade war that has battered financial markets. S&P 500 e-minis were up 0.68 percent, set to add to a four percent gain in the past two days, sparked by a strong jobs data and the Federal Reserve chief's remarks that calmed worries that interest rate hikes would hurt growth. The meetings are the first face-to-face talks since U.S. President Donald Trump and Chinese President Xi Jinping agreed in December to a 90-day truce in a trade war.
Steel prices in the US have dropped below their levels before President Donald Trump announced new tariffs on imports last year, as world markets have responded to concerns about a slowdown in demand in China. S&P Global Platts benchmark price for hot-rolled steel coil has dropped from a peak of $920 a short ton last July to about $725 a short ton at the end of last week, a fall of 21 per cent. The decline in prices is putting pressure on the US steelmakers that Mr Trump has been trying to help with his tariff strategy, with mixed results.
It's admittedly a paradox. Although United States Steel (NYSE:X) is on the verge of logging its best full-year revenue since 2014 and its most profitable year since 2008, X stock itself just came up and off multi-year lows after falling more 60% from its March peak. The explanation for the mismatched trends isn't terribly tough to come up with. Fear about the impact of new tariffs on steel imported into the United States -- mostly fear of the unknown -- drove U.S. Steel stock along with peers like AK Steel (NYSE:AKS) and Century Aluminum (NASDAQ:CENX) sharply lower. But, by and large, those tariffs created their intended result. That is, U.S.-based providers like AK Steel and U.S. Steel have enjoyed more pricing power without facing a demand headwind. The economy remains rather robust, even if the auto-making industry has cooled. To that end, one overarching question surfaces … if what should have been bullish for U.S. Steel stock was actually bearish, might what is arguably supposed to be bearish end up serving as a tailwind for X stock? InvestorPlace - Stock Market News, Stock Advice & Trading Tips ### More Good Than Harm Only in retrospect has it become evident that too many investors were looking at the matter through a one-dimensional (and probably a politically charged) lens. * 10 Oversold Stocks Due for a Bounce Certainly a shakeup of how the nation conducts business with China, its most important trade partner, primarily by the hand of polarizing President Donald Trump was an uncomfortable development for some. Although most everyone agrees the heavy tariffs China imposes on U.S. goods sold in China are less than fair, not everyone agreed now was the right time to push back. Trump pushed back anyway. The end result thus far hasn't given critics much to complain about. Nucor (NYSE:NUE) and Steel Dynamics (NASDAQ:STLD) are both expected to report record annual earnings once their fourth-quarter numbers are posted. Although generally closer to the beginning of the supply chain than Nucor and Steel Dynamics, AK Steel and U.S. Steel aren't having bad years either. U.S. Steel, for instance, is on pace to beef up its top line by nearly 17% for fiscal 2018, driving a huge profit increase. Both are expected to continue improving through next year, even at a more moderated pace. That's because prices for raw steel and finished steel products are firm, and demand isn't yet abating … with the 'and' being the operative word of that explanation. Prices for hot-rolled steel sheets are up nearly 70% since their January low, and remain within reach of the multi-year high hit in September despite falling roughly 20% in the meantime. Noteworthy is that prices for China's still fell to a similar degree at the same time, suggesting the country most targeted by 2018's import tariffs is finally starting to feel a pinch. And, as of October, the World Steel Association predicted 2018's consumption of steel would roll in 3.9% higher than 2017's tally, and then grow another 1.4% in 2019. Moreover, that outlook was offered before prices broadly fell, which may in fact facilitate even more consumption provided the global economy sidesteps a recession. ### Looking Ahead for X Stock Fast-forward to this week. Although it will be a far-from-finalized end to the tariff war, this week, representatives from China and the United States are meeting to discuss trade. China, undeniably feeling the impact of new tariffs more than U.S. companies are -- despite their lamentations -- is likely ready to deal. What that may mean for companies like Century Aluminum and U.S. Steel isn't clear. Realistically speaking, Trump will secure some, but not all, of the concessions he'd like to see take shape. That will make China's steel more competitively priced again, but also stands to rev the global economy's engine again as well. * 7 Stocks to Buy Down 20% in December That's the rub for investors … determining where the optimal balance between protectionism and hands-off policies apply. The initial assumptions were clearly largely wrong. The tariffs gave U.S. steel and material companies the pricing power they've craved without quelling the economy … at least not yet. In that same vein, one can't help but wonder if a palatable end to the tariff war (the end so many investors say they want) could actually do more harm than good to metals stocks. Then again, the facts of the matter haven't been terribly relevant. Most of these names have been walloped on what have been erroneous assumptions. There's no reason that can't rebound on equally erroneous but opposite assumptions. Or, perhaps with X stock trading at only 5.5 times its trailing earnings and less than 4 times its forward-looking profits, shares are in a position to rebound no matter what lies ahead. Or maybe, just maybe, U.S. Steel's bottom line has far less to do with tariffs and far more to do with the economy than most investors are able to believe. After all, roughly 75% of the requests steel importers made to exclude their foreign steel purchases from 2018's new tariffs were granted by government regulators. The United States' steel companies have been doing just fine anyway. As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Top Stock Picks From the Street's Best Analysts * 7 Tech Stocks Without China Exposure * 5 Strong-Buy Stocks That Crushed 2018 Compare Brokers The post Surprise! U.S. Steel Isn't as Vulnerable to Tariffs as Feared. appeared first on InvestorPlace.
Are US Steel Companies Preparing Themselves for Trump’s Wall? ## US steel companies Today, Nucor (NUE), the largest US-based steel producer, announced a $1.4 billion investment to construct a new steel plate mill in the US Midwest. Yesterday, President Donald Trump tweeted that the Mexican border wall could be a “Steel Barrier rather than concrete.” The president has highlighted the investments made by steel companies at various forums. He also congratulated Steel Dynamics when the company announced a massive steel plant in November, and he visited U.S. Steel Corporation’s (X) Granite City facility last year after the company announced the restarting of a blast furnace it had idled in 2015. ## Bullish US steel companies (SPY) have been quite bullish in their outlooks. Trump’s Section 232 tariffs have helped lift US steel prices. Although US steel prices fell sharply in the second half of 2018, tracking global weakness, the spreads between US and international prices are still quite tempting. As US steel companies’ earnings and cash flows have improved, they’ve been looking at ways to allocate capital. Companies (AKS) such as Cleveland-Cliffs (CLF) have announced buybacks. If President Trump manages to get his way on his proposed steel barrier on Mexico’s border, it will support US steel demand. Furthermore, if the president goes ahead with his infrastructure plans, it could provide another boost to US steel companies. Both Nucor and Steel Dynamics are investing significantly in new capacity. US steel stocks are looking strong so far this year after a dismal 2018. Read Why Metals and Mining Stocks Have Been a Falling Knife for a closer look at steel’s 2019 outlook.