|Bid||67.29 x 300|
|Ask||67.36 x 100|
|Day's Range||66.85 - 67.92|
|52 Week Range||51.67 - 70.48|
|PE Ratio (TTM)||16.42|
|Earnings Date||Apr 18, 2018 - Apr 23, 2018|
|Forward Dividend & Yield||1.52 (2.25%)|
|1y Target Est||73.77|
Alan Tonelson, RealityChek founder, discusses how proposed steel and aluminum tariffs could impact steel producer stocks.
If you're looking for a profitable portfolio of stocks that will offer the best of value and growth investing, try the growth at a reasonable price or GARP strategy.
Although Donald Trump had resolved to protect the domestic US steel industry from the onslaught of subsidized imports, they rose in 2017. On multiple instances, US steelmakers (SLX) such as ArcelorMittal (MT), U.S. Steel Corporation (X), and Nucor (NUE) have urged the US administration to act on the Section 232 probe and end subsidized steel imports, which have been impacting their market share and pricing.
On the 4Q17 earnings call, ArcelorMittal’s (MT) CEO, Lakshmi Mittal, outlined a new capital allocation strategy. According to Mittal, “Mostly, we will continue to prioritize deleveraging, we believe that a net debt level of $6 billion with an appropriate target to sustain investment-grade rating metrics and support positive free cash flow even in the low point on the cycle. A few years back, ArcelorMittal set itself a medium-term net debt target of $15 billion.
On the 4Q17 earnings call, Kevin Bradley, U.S. Steel Corporation’s (X) CFO, said the company is “committed to strengthening the balance sheet.” He also talked about derisking the balance sheet and touched upon the redemption of $200 million of secured debt in 4Q17.
This year, Nucor expects its capital expenditure to more than double from the 2017 levels. According to Jim Frias, Nucor’s CFO, “Approximately two thirds of planned 2018 capital expenditures are for expansion, product improvement and cost-saving projects, with the remaining one third for maintenance purposes.” The company has invested ~$2 billion since 3Q16, and it expects these capital investments to add $400 million to its annual EBITDA (earnings before interest, tax, depreciation, and amortization) in a normal business cycle.
During their 4Q17 earnings call, Roger Newport, AK Steel’s (AKS) CEO, noted that in 2017 the company “took actions to strengthen our balance sheet by refinancing $680 million of our debt. The company also outlined a long-term strategic plan under which it would work toward generating an economic profit, assuming its weighted average cost of capital of 10.5%. Under its transformation strategy (XME), among other targets, U.S. Steel Corporation (X) is also working to generate an economic profit.
ArcelorMittal (MT) has a current ratio of 1.25, based on its 4Q17 financial data. You can define the current ratio as current assets divided by current liabilities. U.S. Steel Corporation (X) has a current ratio of 1.75, while AK Steel’s (AKS) current ratio is 1.83, according to the most recent financial data.
CHARLOTTE, N.C. , Feb. 20, 2018 /PRNewswire/ -- The board of directors of Nucor Corporation (NYSE: NUE) declared the regular quarterly cash dividend of $0.38 per share on Nucor's common stock. This cash ...
On February 16, 2018, the US Department of Commerce released its recommendations for the Section 232 probe into steel and aluminum imports. The Department of Commerce recommended global steel duties of at least 24% on all steel products from all countries.
NEW YORK, NY / ACCESSWIRE / February 20, 2018 / U.S. markets closed Friday with weekly gains in the range of 4 percent to 5 percent. The Dow Jones Industrial Average gained 0.08 percent to close at 25,219.38, ...
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.