|Bid||48.89 x 100|
|Ask||67.70 x 100|
|Day's Range||64.70 - 66.56|
|52 Week Range||51.67 - 70.48|
|PE Ratio (TTM)||15.95|
|Earnings Date||Apr 18, 2018 - Apr 23, 2018|
|Forward Dividend & Yield||1.52 (2.33%)|
|1y Target Est||74.54|
US HRC (hot rolled coil) steel prices, which are considered a benchmark for steel prices, are hovering near multiyear highs. Higher steel prices should support the earnings of companies such as U.S. Steel Corporation (X), Steel Dynamics (STLD), and AK Steel (AKS). There is a lag between a steel company booking a sale and the steel being shipped to the buyer.
The White House economic adviser’s connection to the company highlights the Trump administration’s close ties to the steel industry that tariffs now stand to benefit.
Nucor (NUE) expects first-quarter earnings to be between $1.00 and $1.05 per share and sees pricing momentum to continue for its steel mills unit.
Earlier, we considered the various opportunities for U.S. Steel Corporation (X) in the wake of President Donald Trump’s recently announced tariffs on steel. The tariffs haven’t made US steel prices immune to global steel prices (MT). Following their implementation, US steel prices—already among the highest globally—could see more gains.
Nucor expects first quarter results to be in the range of $1.00 to $1.05 per diluted share. This range is a decrease compared to the fourth quarter of 2017 consolidated net earnings of $1.20 per diluted share and first quarter of 2017 earnings of $1.11 per diluted share. Excluding the non-operating items described below, expected first quarter of 2018 performance is better than the fourth quarter of 2017 and comparable to the first quarter of 2017. Projected first quarter of 2018 results include an expense of $21.8 million, or $0.07 per diluted share, related to the write off of deferred tax assets due to the change in the tax status of a subsidiary.
U.S. Steel Corporation (X) has been among the biggest gainers in the steel space this year. The tariffs imposed under the Section 232 import probe have been the key drivers of US steel prices. In this article, we’ll take a look at how these tariffs could positively affect U.S. Steel.
Nucor (NUE) rebar micro mill's construction in Florida is expected to be completed within two years post the pending permit and regulatory approvals.
China is the world’s largest steel exporter. In the last few years, higher Chinese steel exports have been global steel prices’ (MT) nemesis. Globally, steel associations have accused China of dumping their markets with cheap steel that’s allegedly subsidized by the Chinese government.
Nucor will build a $240 million rebar mill in Florida, the latest investment from the steel maker in a bid to capitalize on a rising market for the metal.
CHARLOTTE, N.C., March 12, 2018 /PRNewswire/ -- Nucor Corporation (NUE) announced today that it will build a rebar micro mill in Frostproof, Florida, which is located in Polk County. This is a $240 million investment and is the second rebar micro mill Nucor is constructing. In November 2017, Nucor announced a rebar micro mill project in Sedalia, Missouri.
CHARLOTTE, N.C., March 8, 2018 /PRNewswire/ -- Nucor Corporation (NUE) is pleased that President Trump moved forward today to implement the tariffs on steel imports he announced last week. Taking this comprehensive action makes it clear to foreign competitors that dumping steel products into our market will no longer be tolerated. "We thank the President for taking decisive and meaningful action to address the massive flood of dumped and illegally subsidized steel imports into the United States," said John Ferriola, Chairman, CEO and President of Nucor Corporation.
The automotive sector is the second-largest end steel consumer. ArcelorMittal (MT) is the leading steel supplier to the global automotive industry. Almost two-thirds of AK Steel’s (AKS) steel shipments are to the automotive sector.