The steel company SSAB has had a positive share price development after the interim report on Wednesday, October 23, which showed a better adjusted ebitda result than expected. The deviation from expectations was just over 10 percent. Several analysts have lowered their target prices for the steel share after the report.
The share, which rose 0.3 percent on the day of the report, is currently up 4.6 percent after the report release, while the OMXS30 index has risen 0.9 percent.
Based on estimates received after the interim report, Factset's consensus for this year's sales has been lowered by 0.8 percent, while the consensus for next year has been adjusted downwards by 1.2 percent.
The consensus for ebitda earnings has been lowered by 1.2 percent for this year and lowered by 6.0 percent for next year.
The average recommendation on the share remains overweight.
The average target price has been lowered 4.5 percent to SEK 59.62, from SEK 62.42.
The proportion of positive recommendations is now 41 percent (41), while the proportion of 'hold' recommendations is 41 percent (41) and the proportion of negative recommendations is 18 percent (18).
SSAB AB specializes in manufacturing and distribution of specialty steel. Net sales break down by activity as follows:
- steel processing (81.1%): processing of steel and aluminum sheets for industry or construction (the group is the leading manufacturer of steel sheets in Scandinavia), production of laminated steel, metal plate and hardened steel used mainly in equipment for the construction and mining industries (world's leading manufacturer) and manufacture of safety components for the automotive industry;
- trading of steel products (11.4%): metals, building products, tools, machinery, etc. Tibnor is Sweden's leading steel trading company;
- sale of construction materials (4.8%; Ruukki Construction);
- other (2.7%).
Net sales are distributed geographically as follows: Sweden (13.7%), Finland (7.9%), Europe (37.2%), the United States (29%) and other (12.2%).
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Investor
Investor
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Global
Global
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