28.63 0.00 (0.00%)
After hours: 4:17PM EDT
|Bid||28.64 x 1800|
|Ask||29.20 x 900|
|Day's Range||28.45 - 28.70|
|52 Week Range||27.17 - 37.50|
|Beta (3Y Monthly)||2.94|
|PE Ratio (TTM)||5.53|
|Earnings Date||Feb 21, 2017 - Feb 27, 2017|
|Forward Dividend & Yield||0.10 (0.35%)|
|1y Target Est||43.26|
Cleveland-Cliffs (CLF) stock has received six upgrades (including initiations) and just one downgrade in 2018 so far.
Cleveland-Cliffs (CLF) reported volumes of ~6 million long tons for its US (DIA) iron ore (or USIO) division for Q2 2018. The volumes during the quarter reflect a YoY (year-over-year) increase of 38%. The primary reasons for the increase in volumes were increased customer demand and change in the method of sales recognition.
Corp. struck a tentative agreement for a new labor contract covering at least 14,000 workers, breaking a three-year wage freeze. On a company website dedicated to the negotiations, U.S. Steel touted increases in base wages over a six-year term.
Cleveland-Cliffs (CLF) is slated to release its third-quarter results before the market opens on October 19. It will have a conference call with analysts and investors on the same day at 10:00 AM EDT. CLF’s second-quarter results were a solid beat on expectations.
I’ve been keeping an eye on ArcelorMittal (AMS:MT) because I’m attracted to its fundamentals. Looking at the company as a whole, as a potential stock investment, I believe MT has Read More...
GDYNIA/LONDON (Reuters) - ArcelorMittal, the world's largest steel producer, has agreed the sale of plants in the Czech Republic, Romania, Macedonia and Italy to Liberty House to satisfy regulatory requirements for its acquisition of Italian steelmaker Ilva. The announcement by ArcelorMittal on Friday did not disclose the value of the disposals, though investment bank Jefferies said they are unlikely to achieve a book value it estimates at $1 billion. The sales satisfy part of an agreement with the European Commission, which approved the acquisition of Ilva - Italy's largest steel plant by capacity - after ArcelorMittal pledged to sell a string of businesses across Europe to address competition concerns.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
12 October 2018 – ArcelorMittal (‘the Company’) today announces that it has received a binding offer from Liberty House Group for the acquisition of ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia) and ArcelorMittal Piombino (Italy). The four assets are part of a divestment package the Company agreed with the European Commission (‘EU’) during its merger control investigation into the Company’s acquisition of Ilva S.p.A (‘Ilva’).
U.S. Steel Corporation (X) is scheduled to release its third-quarter earnings results on November 1. The stock has received “buy” or higher ratings from eight analysts, while six analysts have given it “hold” ratings. The remaining two analysts polled by Thomson Reuters on October 9 have given it “sell” or equivalent ratings.
AK Steel (AKS) is scheduled to release its third-quarter earnings results on October 25. Five analysts have rated AK Steel as a “hold,” while the remaining two analysts polled by Thomson Reuters on October 9 have given it “sell” or equivalent ratings. AK Steel’s mean consensus price target of $5.25 represents a 9.4% upside over its October 9 closing price.
Nucor (NUE), the largest US-based steel producer, is scheduled to release its third-quarter earnings results on October 18. In this article, we’ll see how analysts are rating the stock ahead of its earnings release.
Reviving American manufacturing was one of President Trump’s major campaign planks. We’ve seen plant restarts in the aluminum and steel industry after the Section 232 tariffs were implemented. US unemployment levels are also hovering around multiyear lows. A tightening job market coupled with President Trump’s push for domestic manufacturing could benefit US workers.
As we noted previously in this series, the markets are concerned that US steel prices have peaked. Steel prices, like other commodities, eventually depend on supply-and-demand dynamics. The construction, automotive, and energy industries are the leading steel consumers.
In the final article in this series, we’ll look at Cleveland-Cliffs’ (CLF) valuation and compare it to those of its US steel peers (SLX). Among US (SPY) steel stocks (XME), U.S. Steel Corporation (X) and ArcelorMittal (MT) are trading at the lowest forward multiples of 3.4x and 4.1x, respectively. Cleveland-Cliffs, on the other hand, is trading at the highest multiple of 7.4x.
The two top bidders may stay in the race for Essar Steel India Ltd.’s 10 million-tons-a-year plant, the country’s top court ruled on Thursday, provided they first make banks whole. For ArcelorMittal, the payment required is for two unconnected defaults. The world’s biggest steel producer and Lakshmi Mittal, its billionaire controlling shareholder, sold their interest in Uttam Galva Steels Ltd. and KSS Petron Pvt.
The world’s largest steelmaker ArcelorMittal and a VTB Capital-led consortium have been vying for Essar Steel India Ltd., which came on the block after India’s central bank ordered lenders to push it into bankruptcy proceedings last year. The company wasn’t part of the second round, but the Supreme Court held on Thursday that the Numetal consortium remained a related party to Essar Steel.
US steel production is the key factor that drives US steelmakers’ (SLX)(XME) revenues. Investors track production data to get a sense of the direction of overall volumes. AK Steel (AKS) and ArcelorMittal (MT) are among Cleveland-Cliffs’ (CLF) key customers.
Deutsche Bank has downgraded U.S. Steel (X) from a “buy” to a “hold.” The brokerage also lowered its price target from $47 to $35. According to Deutsche Bank, US steel prices have peaked. Analysts have been turning bearish on U.S. Steel for quite some time now.
In the previous article, we looked at China’s August steel production data. In this article, we’ll look at some indicators of Chinese steel demand (X) (AKS). China’s fixed asset investment, which has been a key pillar of the country’s metal demand, continued to taper in August. The country’s fixed asset investment growth rate fell to 5.3% year-over-year (or YoY) in the first eight months of 2018, which is a fresh record low. China’s fixed asset investment growth rates have fallen as the country steers its economy from an investment-driven economy to a consumption-driven economy. ...
Steel production data is a key indicator for investors, as it offers insights into steel supply (AKS). In the first eight months of 2018, global steel production has risen 4.8% as compared to the corresponding period in 2017. After registering strong gains in the first half of the year, global steel production took a breather in August largely due to lower steel production in China (FXI).
Cleveland-Cliffs' (CLF) latest contract agreement with the United Steelworkers (USW) will provide it a competitive cost structure.
Cabot Corporation's (CBT) new Norit SX Super S charcoal powder is produced by high purity sustainable feedstocks, activation methods and washing steps.
In this article, we’ll do a detailed analysis of August steel imports data. Last month, imports of blooms, billets, and slabs, which are semi-finished steel products requiring more processing, rose 19.1% sequentially. Imports also rose on a yearly basis.
PPG Industries (PPG) plans a global price rise owing to cost pressure related to raw materials, labor, freight and distribution in every region.