Energen (NYSE: EGN), Olympic Steel, Inc. (NASDAQ: ZEUS), Williams Sonoma Inc (NYSE: WSM), Northgate Minerals Co. (NYSE: NXG) and Great Plains Energy (NYSE: GXP) upgraded by analysts.
Goldman Sachs (NYSE: GS) upgraded Williams Sonoma Inc (WSM) from a "Neutral" rating to a "Buy" rating. They have a price target of $44.00 on the company.
Goldman Sachs upgraded Olympic Steel, Inc. (ZEUS) from a “sell” rating to a “neutral” rating.
TD Newcrest upgraded Northgate Minerals Co. (NXG) from a “hold” rating to a “buy” rating.
Wells Fargo & Co. (NYSE: WFC) upgraded Great Plains Energy (GXP) from a “market perform” rating to an “outperform” rating.
Citigroup (NYSE: C) upgraded Energen (EGN) from a “sell” rating to a “hold” rating.
Energen closed Thursday at $57.30, gaining $0.18, or 0.32 percent. Olympic Steel closed at $27.12, falling $0.35, or 1.27 percent. Williams Sonoma ended the day at $38.12, jumping $0.16, or 0.42 percent. Northgate Minerals closed at $3.03, rising $0.13, or 4.48 percent. Great Plains Energy closed at $20.90, down $0.04, or 0.19 percent.
Showing posts with label Olympic Steel. Show all posts
Showing posts with label Olympic Steel. Show all posts
Friday, July 15, 2011
Thursday, May 19, 2011
Price Targets on (SMT) (SODA) (SPLS) (PETM) (ZEUS) Updated
Price targets on shares of SMART Technologies Inc (NYSE: SMT), Sodastream International (NASDAQ: SODA), Staples, Inc. (NASDAQ: SPLS), Petsmart Inc (NASDAQ: PETM) and Olympic Steel, Inc. (NASDAQ: ZEUS) were updated by analysts.
Deutsche Bank (NYSE:DB) cut their price target on SMART Technologies Inc (SMT) to $12.00.
JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Sodastream International (SODA) to $50.00.
Goldman Sachs (NYSE:GS) cut their price target on Staples, Inc. (SPLS) to $19.00. They have a “neutral” rating on the company.
Oppenheimer raised their price target on Petsmart Inc (PETM) from $41.00 to $42.00. They have a “perform” rating on the company.
Jefferies (NYSE:JEF) raised their price target on Olympic Steel, Inc. (ZEUS) to $32.00.
Deutsche Bank (NYSE:DB) cut their price target on SMART Technologies Inc (SMT) to $12.00.
JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Sodastream International (SODA) to $50.00.
Goldman Sachs (NYSE:GS) cut their price target on Staples, Inc. (SPLS) to $19.00. They have a “neutral” rating on the company.
Oppenheimer raised their price target on Petsmart Inc (PETM) from $41.00 to $42.00. They have a “perform” rating on the company.
Jefferies (NYSE:JEF) raised their price target on Olympic Steel, Inc. (ZEUS) to $32.00.
Thursday, May 5, 2011
Steel's (CPSL) (GNI) (ZEUS) (WOR) (MT) and China Demand
For the most part, as goes China so goes the demand for steel, and in that regard it doesn't look good for steel companies like China Precision Steel, Inc. (Nasdaq:CPSL), Great Northern Iron Ore Proper (NYSE:GNI), Olympic Steel Inc. (Nasdaq:ZEUS), Worthington Industries, Inc. (NYSE:WOR) and ArcelorMittal (NYSE:MT), which are going to be pressured in the years ahead from declining demand from the Middle Kingdom.
According to the China Iron & Steel Association, the Chinese government is pushing to slow down economic growth, which will result in demand for steel in the country to slow down.
Estimates under the current scenario for the steel sector have steel consumption declining in China by a minimum of 2.6 percent to as high as 4.6 percent in 2011.
Globally it doesn't look good for the next five years or so either, as the top estimates are for steel demand to grow at a 5 percent rate annually, although many think it'll be less than that.
In the short term, the U.S. steel industry should ship product at 14 percent above 2010 levels, reaching about 95 million tons in 2011.
All the companies are being affected by soaring iron ore prices and other inputs, which are putting stress on margins and earnings because buyers are hesitating to acquire product at too high of prices; something that will continue for several years.
For the steel industry, there isn't much to be optimistic about, no matter how the situation is spun. It's going to remain tough for some time.
According to the China Iron & Steel Association, the Chinese government is pushing to slow down economic growth, which will result in demand for steel in the country to slow down.
Estimates under the current scenario for the steel sector have steel consumption declining in China by a minimum of 2.6 percent to as high as 4.6 percent in 2011.
Globally it doesn't look good for the next five years or so either, as the top estimates are for steel demand to grow at a 5 percent rate annually, although many think it'll be less than that.
In the short term, the U.S. steel industry should ship product at 14 percent above 2010 levels, reaching about 95 million tons in 2011.
All the companies are being affected by soaring iron ore prices and other inputs, which are putting stress on margins and earnings because buyers are hesitating to acquire product at too high of prices; something that will continue for several years.
For the steel industry, there isn't much to be optimistic about, no matter how the situation is spun. It's going to remain tough for some time.
Monday, May 2, 2011
Steel Firms (CPSL) (SIM) (ZEUS) (WOR) (CRS) Pressured on Low Growth Outlook
The steel sector, even with some strong recent quarters from companies, looks weak, as over the next five years it is projected to grow at a pace of about 5 percent or less annually, placing downward pressure on steel producers like China Precision Steel, Inc. (Nasdaq:CPSL), Grupo Simec S.A.B. de C.V. (AMEX:SIM), Olympic Steel Inc. (Nasdaq:ZEUS), Worthington Industries, Inc. (NYSE:WOR) and Carpenter Technology (NYSE:CRS). And that's the more positive outlook by most analysts. A large number don't believe growth will even happen at that rate.
A majority of steel companies are being pressured to increase prices on their products in order to protect margins and earnings as the price of inputs and commodities rise.
That's not to say steel demand is falling completely, because it's not. But rising demand in some segments doesn't guarantee rising profits, as the industry is experiencing. A number of weak economies around the world could cut also into demand if steel prices and products rise to prohibitive levels.
There's no way to spin the outlook for the steel industry positively. The industry will struggle for years even in the midst of strong demand in some segments, as they attempt to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
Olympic Steel closed Friday at $29.37, falling $0.70, or 2.33 percent.
A majority of steel companies are being pressured to increase prices on their products in order to protect margins and earnings as the price of inputs and commodities rise.
That's not to say steel demand is falling completely, because it's not. But rising demand in some segments doesn't guarantee rising profits, as the industry is experiencing. A number of weak economies around the world could cut also into demand if steel prices and products rise to prohibitive levels.
There's no way to spin the outlook for the steel industry positively. The industry will struggle for years even in the midst of strong demand in some segments, as they attempt to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
Olympic Steel closed Friday at $29.37, falling $0.70, or 2.33 percent.
Friday, April 29, 2011
AK Steel (AKS) (GGB) (GNI) (IIIN) (MTL) (ZEUS) Pressured on Low Growth Steel Outlook
The steel industry, even with some strong recent quarters, looks weak, as over the next five years it is expected to grow at a pace of about 5 percent or less annually, putting downward pressure on steel companies like AK Steel Holding Corporation (NYSE:AKS), Gerdau S.A. (NYSE:GGB), Great Northern Iron Ore Proper (NYSE:GNI), Insteel Industries Inc. (Nasdaq:IIIN), Mechel OAO (NYSE:MTL) and Olympic Steel Inc. (Nasdaq:ZEUS); although they traded a little stronger Thursday.
A majority of steel companies are being forced to raise prices on their products in order to protect margins and earnings as the price of inputs and commodities rise.
That's not to say steel demand is falling, because it's not. But rising demand doesn't guarantee rising profits, as the industry is experiencing. A number of weak economies around the world could cut also into demand if steel prices and products rise to prohibitive levels.
There's no way to spin the outlook for the steel industry positively. The industry will struggle for years even in the midst of strong demand, as they attempt to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
It also looks like the U.S. economy is starting to sputter again, and that's not good news for the steel industry either.
A majority of steel companies are being forced to raise prices on their products in order to protect margins and earnings as the price of inputs and commodities rise.
That's not to say steel demand is falling, because it's not. But rising demand doesn't guarantee rising profits, as the industry is experiencing. A number of weak economies around the world could cut also into demand if steel prices and products rise to prohibitive levels.
There's no way to spin the outlook for the steel industry positively. The industry will struggle for years even in the midst of strong demand, as they attempt to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
It also looks like the U.S. economy is starting to sputter again, and that's not good news for the steel industry either.
Wednesday, April 27, 2011
Olympic Steel (ZEUS) (SUTR) (SYNL) (USAP) (WOR) Close Up Even with Growth, Cost Concerns
The steel industry, even with some strong recent quarters, looks weak, as over the next five years it is expected to grow at a pace of about 5 percent or less annually, putting downward pressure on steel producers like Olympic Steel Inc. (Nasdaq:ZEUS), Sutor Technology Group, Ltd. (Nasdaq:SUTR), Synalloy Corp. (Nasdaq:SYNL), Universal Stainless & Alloy Pr (Nasdaq:USAP) and Worthington Industries, Inc. (NYSE:WOR), which closed up on Tuesday, even with the headwinds they face. And that's the more positive outlook by the majority of analysts. Many don't think growth will even happen at those modest levels.
A majority of steel companies are being forced to raise prices on their products in order to protect margins and earnings as the price of inputs and commodities rise.
That's not to say steel demand is falling, because it's not. But rising demand doesn't guarantee rising profits, as the industry is experiencing. A number of weak economies around the world could cut also into demand if steel prices and products rise to prohibitive levels.
Of course there a large varieties of companies with steel exposure, and each segment of the sector can represent strengths or weaknesses. So each unit and company will have to be watched closely for performance of course.
There's no way to spin the outlook for the steel industry in a positive manner. The industry will struggle for years even in the midst of strong demand as it attempts to work through the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
Some winners will emerge, but over time it's not easy to pick any one that's going to stand out. Some have looked to larger companies who may be able to navigate through the higher costs better, but we'll see if that's the case, as it isn't always that simple because of the wide variety of products and costs and pricing power with each one.
A majority of steel companies are being forced to raise prices on their products in order to protect margins and earnings as the price of inputs and commodities rise.
That's not to say steel demand is falling, because it's not. But rising demand doesn't guarantee rising profits, as the industry is experiencing. A number of weak economies around the world could cut also into demand if steel prices and products rise to prohibitive levels.
Of course there a large varieties of companies with steel exposure, and each segment of the sector can represent strengths or weaknesses. So each unit and company will have to be watched closely for performance of course.
There's no way to spin the outlook for the steel industry in a positive manner. The industry will struggle for years even in the midst of strong demand as it attempts to work through the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
Some winners will emerge, but over time it's not easy to pick any one that's going to stand out. Some have looked to larger companies who may be able to navigate through the higher costs better, but we'll see if that's the case, as it isn't always that simple because of the wide variety of products and costs and pricing power with each one.
Monday, April 25, 2011
POSCO (PKX) (USAP) (ZEUS) (GGB) Pressured on Low Growth Outlook
The steel industry, even with some strong recent quarters, looks weak, as over the next five years it is expected to grow at a pace of about 5 percent or less annually, putting downward pressure on steel producers like Gerdau S.A. (NYSE:GGB), Olympic Steel Inc. (Nasdaq:ZEUS), Universal Stainless & Alloy (Nasdaq:USAP) and POSCO (NYSE:PKX), even with a couple of decent quarterly results coming from their peers, like Steel Dynamics (NASDAQ:STLD). And that's the more positive outlook by the majority of analysts. Many don't think growth will happen even at that rate.
A majority of steel companies are being pressured to raise prices on their products in order to protect margins and earnings as the price of inputs and commodities jump.
That's not to say steel demand is falling, because it's not. But the slowly rising demand doesn't guarantee rising profits, as the industry is experiencing at this time. A number of weak economies around the world could also cut into demand if steel prices and products rise to prohibitive levels.
There's no way to spin the outlook for the steel industry in a positive manner. The industry will struggle for years, even in the midst of better demand, as it attempts to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from the producers.
POSCO closed Thursday at $111.13, falling $2.10, or 1.85 percent. Universal Stainless & Alloy ended the session at $32.79, gaining $0.64, or 1.99 percent. Olympic Steel Inc. closed at $30.86, up $0.15, or 0.49 percent. Gerdau S.A. closed at $12.13, down $0.01, or 0.08 percent.
A majority of steel companies are being pressured to raise prices on their products in order to protect margins and earnings as the price of inputs and commodities jump.
That's not to say steel demand is falling, because it's not. But the slowly rising demand doesn't guarantee rising profits, as the industry is experiencing at this time. A number of weak economies around the world could also cut into demand if steel prices and products rise to prohibitive levels.
There's no way to spin the outlook for the steel industry in a positive manner. The industry will struggle for years, even in the midst of better demand, as it attempts to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from the producers.
POSCO closed Thursday at $111.13, falling $2.10, or 1.85 percent. Universal Stainless & Alloy ended the session at $32.79, gaining $0.64, or 1.99 percent. Olympic Steel Inc. closed at $30.86, up $0.15, or 0.49 percent. Gerdau S.A. closed at $12.13, down $0.01, or 0.08 percent.
Thursday, April 21, 2011
Mechel (MTL) (ZEUS) (HAYN) (CLF) Get Boost from Steel Consumption Report, (STLD)
Investors have suddenly become steel industry and company believers after the performance of Steel Dynamics, Inc. (Nasdaq:STLD) and the release of estimates for glow steel production by the World Steel Association, which pushed up the share prices of Mechel OAO (NYSE:MTL), Olympic Steel Inc. (Nasdaq:ZEUS), Haynes International Inc. (Nasdaq:HAYN) and Cliffs Natural Resources Inc. (NYSE:CLF) Wednesday.
Steel Dynamics gave as its reason for the optimism as growing backlogs in the company’s structural and rail division, but quietly added some of that could have been weather-related.
Also the projected global steel consumption growth of 5.9 percent didn't included the potential devastating effect the slowdown in Japan will have, as it's the largest consumer of steel in the world. Without that, the numbers are pretty meaningless. And it will take time, as with everything related to Japan at this time, before we know the full impact on steel and other sectors.
Haynes International Inc. closed Wednesday at $49.89, gaining $1.14, or 2.34 percent. Cliffs Natural Resources Inc. ended the day at $95.91, up $1.01, or 1.06 percent. Olympic Steel Inc. closed at $30.71, jumping $0.15, or 0.49 percent. Mechel OAO closed the session at $28.75, rising $0.69, or 2.46 percent.
Steel Dynamics gave as its reason for the optimism as growing backlogs in the company’s structural and rail division, but quietly added some of that could have been weather-related.
Also the projected global steel consumption growth of 5.9 percent didn't included the potential devastating effect the slowdown in Japan will have, as it's the largest consumer of steel in the world. Without that, the numbers are pretty meaningless. And it will take time, as with everything related to Japan at this time, before we know the full impact on steel and other sectors.
Haynes International Inc. closed Wednesday at $49.89, gaining $1.14, or 2.34 percent. Cliffs Natural Resources Inc. ended the day at $95.91, up $1.01, or 1.06 percent. Olympic Steel Inc. closed at $30.71, jumping $0.15, or 0.49 percent. Mechel OAO closed the session at $28.75, rising $0.69, or 2.46 percent.
Wednesday, April 20, 2011
Mechel (MTL) (ZEUS) (TS) (TX) (WOR) Up on Steel Dynamics' Results
Even though the results of Steel Dynamics (NASDAQ:STLD) gave steel stocks like Mechel OAO (NYSE:MTL), Olympic Steel Inc. (Nasdaq:ZEUS), Tenaris SA (NYSE:TS), Ternium S.A. (NYSE:TX) and Worthington Industries, Inc. (NYSE:WOR) a big boost Tuesday, overall, the steel industry looks weak over the next five years, as it is expected to grow at a pace of 5 percent or less annually, putting downward pressure on steel producers like. And that's the more optimistic outlook by analysts. Most don't think growth will be at that rate.
Most steel companies are being forced to raise prices on their products in order to protect margins and earnings, as the price of inputs and commodities rise.
That's not to say steel demand is dropping, because it's not. But rising demand doesn't guarantee rising profits, as the industry is finding out. Weak economies around the world could cut into demand if steel prices and products rise to prohibitive levels.
There's no way to spin this in a positive manner. The industry will struggle for years even in the midst of strong demand, as they attempt to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
As for Steel Dynamics, it admits bad weather in February could have been the reason for the jump in March shipments. Even if steel companies in general have a good quarter to report, it's very doubtful it has changed the outlook over the next several years. It could be a chance to make some quick money though.
Steel Dynamics (NASDAQ:STLD) closed Tuesday at $18.46, gaining $1.00, or 5.73 percent. Worthington Industries, Inc. closed at $20.66, rising $0.59, or 2.94 percent. Ternium S.A. closed at $32.87, jumping $0.32, or 0.98 percent. Tenaris SA ended the session at $48.74, increasing $0.89, or 1.86 percent. Olympic Steel Inc. closed at $30.56, gaining $0.02, or 0.07 percent. Mechel OAO closed at $28.06, gaining $0.77, or 2.82 percent.
Most steel companies are being forced to raise prices on their products in order to protect margins and earnings, as the price of inputs and commodities rise.
That's not to say steel demand is dropping, because it's not. But rising demand doesn't guarantee rising profits, as the industry is finding out. Weak economies around the world could cut into demand if steel prices and products rise to prohibitive levels.
There's no way to spin this in a positive manner. The industry will struggle for years even in the midst of strong demand, as they attempt to work out the balance between steel demand, rising inputs, and ability for companies and countries to afford price increases from producers.
As for Steel Dynamics, it admits bad weather in February could have been the reason for the jump in March shipments. Even if steel companies in general have a good quarter to report, it's very doubtful it has changed the outlook over the next several years. It could be a chance to make some quick money though.
Steel Dynamics (NASDAQ:STLD) closed Tuesday at $18.46, gaining $1.00, or 5.73 percent. Worthington Industries, Inc. closed at $20.66, rising $0.59, or 2.94 percent. Ternium S.A. closed at $32.87, jumping $0.32, or 0.98 percent. Tenaris SA ended the session at $48.74, increasing $0.89, or 1.86 percent. Olympic Steel Inc. closed at $30.56, gaining $0.02, or 0.07 percent. Mechel OAO closed at $28.06, gaining $0.77, or 2.82 percent.
Wednesday, April 13, 2011
Nucor (NUE) (ZEUS) (STLD) (X) (SCHN) Drop as Commodities Correct
A general correction in commodities prices spurred by the plunge in oil prices pressured the steel sector as well, with Olympic Steel (Nasdaq:ZEUS), Steel Dynamics (Nasdaq:STLD), Nucor (NYSE:NUE) and Schnitzer Steel Industries (NASDAQ:SCHN) all closing down Tuesday.
Crude oil prices for May delivery were down as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it dropped $3.67 to $106.25. Prices fell 5.9 percent on April 11 and 12.
The U.S. raised its crude-oil price estimate for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.
Schnitzer Steel Industries closed Tuesday at $60.59, falling $0.76, or 1.24 percent. Nucor closed at $45.21, down $1.05, or 2.27 percent. Steel Dynamics closed at $18.21, dropping $0.21, or 1.14 percent. Olympic Steel ended the session at $50.52, declining $1.20, or 2.32 percent.
Crude oil prices for May delivery were down as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it dropped $3.67 to $106.25. Prices fell 5.9 percent on April 11 and 12.
The U.S. raised its crude-oil price estimate for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.
Schnitzer Steel Industries closed Tuesday at $60.59, falling $0.76, or 1.24 percent. Nucor closed at $45.21, down $1.05, or 2.27 percent. Steel Dynamics closed at $18.21, dropping $0.21, or 1.14 percent. Olympic Steel ended the session at $50.52, declining $1.20, or 2.32 percent.
Monday, January 3, 2011
Gerdau S.A. (NYSE:GGB), Steel Dynamics (Nasdaq:STLD), Commercial Metals (NYSE:CMC), Olympic Steel (Nasdaq:ZEUS), Schnitzer Steel (NASDAQ:SCHN) in 2010
Steelmakers had a rough go of it in 2010, and most companies plunged in the early part of April, including companies like Gerdau S.A. (NYSE:GGB), Steel Dynamics (Nasdaq:STLD), Commercial Metals (NYSE:CMC), Olympic Steel (Nasdaq:ZEUS) and Schnitzer Steel (NASDAQ:SCHN).
Gerdau S.A. ended the year at $13.99, gaining $0.14 on December 31, up 1.01 percent. The company had a 52-week trading range of $11.49 to $17.99. They ended the year with a market cap of $19.85 billion.
Commercial Metals closed the year out at $16.59, losing $0.11 on the last trading day, down 0.66 percent. The trading range for 2010 was from $12.12 to $18.18. They ended the year with a market cap of $1.90 billion. They had an extremely volatile year.
Olympic Steel finished off the year at $28.68, dropping $0.18 on Friday, a loss of 0.62 percent. The 2010 trading range for them was $20.18 to $36.75. They closed off the year with a market cap of $312.47 million.
Steel Dynamics ended 2010 at $18.30, down $0.13 on the final trading day of the year, losing 0.71 percent. Their trading range for the year was $12.89 to $20.47. Their market cap heading into 2011 is $3.97 billion.
Schnitzer Steel finished 2010 at $66.39, gaining $0.08, or 0.12 percent on the last day of the year. Their 52-week trading range was $37.00 to $66.85. Their market cap at the end of the year was $1.80 billion.
Gerdau S.A. ended the year at $13.99, gaining $0.14 on December 31, up 1.01 percent. The company had a 52-week trading range of $11.49 to $17.99. They ended the year with a market cap of $19.85 billion.
Commercial Metals closed the year out at $16.59, losing $0.11 on the last trading day, down 0.66 percent. The trading range for 2010 was from $12.12 to $18.18. They ended the year with a market cap of $1.90 billion. They had an extremely volatile year.
Olympic Steel finished off the year at $28.68, dropping $0.18 on Friday, a loss of 0.62 percent. The 2010 trading range for them was $20.18 to $36.75. They closed off the year with a market cap of $312.47 million.
Steel Dynamics ended 2010 at $18.30, down $0.13 on the final trading day of the year, losing 0.71 percent. Their trading range for the year was $12.89 to $20.47. Their market cap heading into 2011 is $3.97 billion.
Schnitzer Steel finished 2010 at $66.39, gaining $0.08, or 0.12 percent on the last day of the year. Their 52-week trading range was $37.00 to $66.85. Their market cap at the end of the year was $1.80 billion.
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