Universal Stainless & Alloy Products (NASDAQ:USAP) Not Confident about Fourth Quarter; May Miss Forecasts – USAP, MT, GGB, X
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Stocks that are being watched this morning are: USAP, MT, GGB, X
Universal Stainless & Alloy Products (NASDAQ:USAP) cautioned its Q4 results will not meet forecasts, as the firm faced lower demand for its products.
Universal, which makes semi-finished and finished specialty steels, stated it anticipates fourth-quarter per-share earnings in the range of 15 cents to 17 cents on sales of $47 million.
Analysts polled by Thomson Reuters predicted per-share earnings of 30 cents on sales of $60.5 million.
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Mr. Oates informed that year-end order entry stayed weak, adding that backlog at the end of the quarter was $51.7 million, against $65.9 million at the close of the Q3.
Operating margin in the Q4 was approximately 4%, given decreased shipment volume and the ongoing ramp-up of operations in North Jackson, Ohio. The firm is likely to announce its Q4 and complete-year results on January 29.
Universal Stainless & Alloy Products (NASDAQ:USAP) climbed+2.41% to close at $34.82 with the total traded volume of 13.07 million shares, with the average volume of 23,499. Its shares were trading within the range of $32.78- $37.05 while its opening price was $32.78. Its market capitalization is $240.29 billion. Its stock price 52 weeks low was $30.60 and 52 weeks high price was $48.10.
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ArcelorMittal (ADR) (NYSE:MT) has the revenue of $87.35 billion with the revenue per share of $56.39. Its stock has the gross profit of $8.45 billion.
ArcelorMittal (ADR)(NYSE:MT) has the beta of 2.51 and its S&P500 52-week change was recorded at 12.92%. The company has a total of 1.55 billion outstanding shares as compared to 925.81 million shares that were floated in the market. Stock was held 2.99% by institutions.
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Gerdau SA (ADR) (NYSE:GGB) reported the gain of + 0.45% and closed at $8.92 with the total traded volume of 7.48 million shares. Its price to sales ratio ended at 0.82 and its price to cash per share was $10.44. Its market capitalization is $ 15.34 billion. The stock owned by Financial Institutions was 19.60%.
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United States Steel Corporation (NYSE:X) stock reported the gain of +0.28% and closed at $24.77 with the total traded volume of 6.90 million shares. Its earnings per share was -$2.07. United States Steel Corporation (NYSE:X)’s market capitalization is $3.57 billion. The stock owned by Financial Institutions was 66.25% while by insiders was 0.20%.
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