59.08 +0.13 (0.22%)
After hours: 7:35PM EDT
|Bid||0.00 x 1100|
|Ask||0.00 x 1200|
|Day's Range||58.59 - 59.67|
|52 Week Range||53.71 - 70.48|
|Beta (3Y Monthly)||1.66|
|PE Ratio (TTM)||11.30|
|Earnings Date||Oct 18, 2018|
|Forward Dividend & Yield||1.52 (2.50%)|
|1y Target Est||76.93|
Zacks.com highlights: Nucor, Rayonier Advanced Materials, Navistar International and NCI Building Systems
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.
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.
On October 15, Credit Suisse downgraded the US steel sector to a “market weight” from an “overweight” rating. Credit Suisse downgraded Nucor (NUE) and Cleveland Cliffs (CLF). Several other brokerages have also taken bearish views on US steel stocks.
Improved performance in the steel mills unit to support Nucor's (NUE) Q3 earnings amid expected decline in the steel products and raw materials units.
The conclusion, if accepted by Mnuchin, would avert an escalation of the U.S.-China trade war and remove a source of anxiety for emerging markets. Mnuchin could issue a different finding. President Donald Trump has publicly and privately pressured Mnuchin to declare China a currency manipulator, but Treasury staff haven’t found grounds to do so, according to the people, who spoke on the condition of anonymity.
Canada will impose new quotas and tariffs on imports of seven categories of steel from all countries, the federal government said on Thursday, fresh measures to head off a potential rise in imports as ...
Nucor (NUE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Zacks.com featured highlights include: Huntington Ingalls, WellCare Health, Steel Dynamics, Nucor and CBRE
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.
Steel Dynamics (STLD) has scheduled its third-quarter earnings release for October 17, and it will hold its earnings call the next day.
The third-quarter earnings season is fast approaching. Steel Dynamics (STLD) will be the first major steel company to release its quarterly performance on October 17. This release will be followed by Nucor’s (NUE) earnings release on October 18.
An interest coverage ratio lower than one suggests that the company is unable to fulfill its interest obligations and could default on repaying debt.
As we discussed previously, several mining companies including Vale and Glencore (GLEN-L) have announced share buybacks in 2018. China’s fixed-asset investment growth rates, which have driven the country’s metal appetite, have fallen to historical lows. The construction boom, which lifted China’s metal demand in the last few years, is also fading quickly.
As we noted previously in this series, US steel prices have peaked. We could see them gradually taper down as domestic steel production rises and the Trump administration defines the Section 232 exemptions.
The metals and mining industry has seen a lot of action in 2018. For steel and aluminum, President Trump’s Section 232 tariffs lifted US steel prices and physical aluminum premiums to multiyear highs. President Trump clamped down on US steel imports and other regions, especially the European Union, took measures to prevent import deflection after the US tariffs. However, steel prices have been quite resilient globally due to falling Chinese steel exports.
In the previous article, we noted that although the near-term outlook for US steel demand looks positive, rising interest rates might take a toll on steel demand from the construction and automotive sectors in the medium to long term. US steel production has picked up the pace after the implementation of President Trump’s Section 232 tariffs. The company also expects its production capacity to increase by ~1.0 million metric tons after it completes its asset revitalization plan.