|Bid||32.39 x 2000|
|Ask||32.42 x 2000|
|Day's Range||34.83 - 36.84|
|52 Week Range||19.59 - 37.50|
|PE Ratio (TTM)||8.18|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
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.
As we discussed previously, ArcelorMittal (MT) has submitted its bid for Essar Steel. The acquisition, if completed, will provide ArcelorMittal with a strong platform in India. Notably, ArcelorMittal doesn’t have a major presence in India.
ArcelorMittal’s (MT) subsidiary ArcelorMittal India Private Limited has made a bid to acquire troubled Indian steelmaker Essar Steel. Because China’s steel demand (RIO) (BHP) is estimated to have peaked after years of rapid growth, analysts see India as a bright spot for global steel markets (PKX).
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.
ArcelorMittal SA and a group led by Russia's VTB have made separate bids for India's Essar Steel, which is undergoing bankruptcy proceedings and faces claims of nearly $8 billion. ArcelorMittal, the world's biggest steelmaker, has offered a "detailed industrial plan" for Essar Steel aimed at improving its performance and profitability, it said in a statement on Monday after the bidding deadline. The group Numetal, which said it is led by VTB, has submitted a bid for Essar Steel, it said in a statement.
U.S. Steel Corporation: Should You Be Greedy or Fearful? As we noted previously, the near-term macro environment looks decent for steel companies like Nucor (NUE) and ArcelorMittal (MT). In this part, we’ll see how U.S. Steel Corporation (X) is trying to address some of its legacy issues.
ArcelorMittal is competing with a consortium led by Russia’s VTB Group as bids come in for Essar Steel India Ltd., the largest distressed steelmaker being sold under the country’s insolvency process, people ...
At one point following Credit Suisse’s (CS) upgrade, Cleveland-Cliffs (CLF) stock was trading at a rise of more than 6% on February 7, 2018, compared to its previous day’s close. Year-to-date (or YTD), Cliffs stock has returned -5.7% as of February 7. Stronger iron ore and US steel prices, as well as elevated North Atlantic Basin pellet premiums, led to this rise in the stock.
Can Cleveland-Cliffs Reverse Its Underperformance in 2018? Steel prices are the major driver of steelmakers’ earnings and revenues. According to Platts, US steel prices rose 17.5% on average compared to 2016.