Acerinox S.A.

Acerinox is the parent company of a group engaged in the manufacture and sale of flat and long stainless steel products, and stainless steel wires. Co.'s major products include slabs, billets, black coils, plates, hot-rolled coils, hot-rolled sheets, flat bars, hot-rolled re-bars, hot-rolled black bars, engraved sheets, cold-rolled coils, cold-rolled sheets and circles. Co. also provides long stainless steel products, such as wire rods, angles, hot rolled flat bars, hot rolled re-bars, reinforced bars in coils, cold rolled re-bars, hot rolled black bars, cold drawn bars, and smooth turned bars. In addition, Co. offers wires, welding wire bars, and bars for electrodes.
  • TickerACX
  • ISINES0132105018
  • ExchangeMadrid Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountrySpain

ACERINOX SA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of ACERINOX SA (ES), a company active in the Steel industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 22, 2020, the closing price was EUR 6.77 and its potential was estimated at EUR 8.32.

Research Department

IBERIAN DAILY 17 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, BANKIA, FERROVIAL, NATURGY, REPSOL, TALGO. MARKETS YESTERDAY AND TODAY The IBEX continues its good performance before the Fed’s meeting, which brought losses in the US The IBEX was the only European index that ended in positive territory before the Fed’s meeting, whereas US indices ended up falling after Powell’s appearance, with little news, but suggesting that zero interest rates will be maintained until 2023. Within the Euro STOXX, Basic Resources and Retail led gains, with Financial Services and Insurance being the worst relative performers. On the macro side, in ...

Research Department

IBERIAN DAILY 20 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, TALGO. MARKETS YESTERDAY AND TODAY A session on an upward curve The session was relatively calm, with European stock markets increasing their early gains and with the S&P 500 hitting a new high thanks to the solid business results and the M&A news in the pharma sector. In the Euro STOXX, Banks and Telecoms led the gains, with Real Estate and Retail bringing up the rear. On the macro side, in the euro zone July’s inflation figure confirmed the preliminary 0.4% YoY (0.3% previously) and the 1.2% core figure (0.4% previously). In the UK July’s inflation rose unexpect...

Research Department

INFORME DIARIO 20 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACERINOX, TALGO. EUROPA: BAYER Sesión de menos a más La jornada transcurrió con relativa calma con las bolsas europeas ampliando las ganancias de la apertura y el S&P 500 alcanzando nuevos máximos arropado por los buenos resultados empresariales y las noticias de M&A en el sector farma. En el Euro STOXX las subidas estuvieron lideradas por Bancos y Telecos mientras que Inmobiliario y Retail se quedaron a la cola. Por el lado macro, en la Eurozona, la inflación de julio confirmó el 0,4% a/a preliminar (0,3% anterior) y el 1,2% en el subyac...

Jean Sassus ...
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/10/2020

...

Jérôme VINERIER

Short term view - ACERINOX : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €9.705, then €8.300. Passing €11.100 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ACERINOX : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 9,705 €, puis 8,300 €. Le franchissement de 11,100 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse court terme - ACERINOX : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 9,705 €, puis 8,300 €. Le franchissement de 11,100 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - ACERINOX : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €9.705, then €8.300. Passing €11.100 would question the continuation of the fall.

Jérôme VINERIER

Medium term view - ACERINOX : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €10.10, then €8.30. Passing €14.34 would question the continuation of the fall.

Research Department

IBERIAN DAILY 17 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, BANKIA, FERROVIAL, NATURGY, REPSOL, TALGO. MARKETS YESTERDAY AND TODAY The IBEX continues its good performance before the Fed’s meeting, which brought losses in the US The IBEX was the only European index that ended in positive territory before the Fed’s meeting, whereas US indices ended up falling after Powell’s appearance, with little news, but suggesting that zero interest rates will be maintained until 2023. Within the Euro STOXX, Basic Resources and Retail led gains, with Financial Services and Insurance being the worst relative performers. On the macro side, in ...

Research Department

IBERIAN DAILY 20 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, TALGO. MARKETS YESTERDAY AND TODAY A session on an upward curve The session was relatively calm, with European stock markets increasing their early gains and with the S&P 500 hitting a new high thanks to the solid business results and the M&A news in the pharma sector. In the Euro STOXX, Banks and Telecoms led the gains, with Real Estate and Retail bringing up the rear. On the macro side, in the euro zone July’s inflation figure confirmed the preliminary 0.4% YoY (0.3% previously) and the 1.2% core figure (0.4% previously). In the UK July’s inflation rose unexpect...

Research Department

INFORME DIARIO 20 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACERINOX, TALGO. EUROPA: BAYER Sesión de menos a más La jornada transcurrió con relativa calma con las bolsas europeas ampliando las ganancias de la apertura y el S&P 500 alcanzando nuevos máximos arropado por los buenos resultados empresariales y las noticias de M&A en el sector farma. En el Euro STOXX las subidas estuvieron lideradas por Bancos y Telecos mientras que Inmobiliario y Retail se quedaron a la cola. Por el lado macro, en la Eurozona, la inflación de julio confirmó el 0,4% a/a preliminar (0,3% anterior) y el 1,2% en el subyac...

Alain William

ODDO : Winning trio of Q2: Acerinox, Aperam and Outokumpu in that order. Q3 expected to be broadly stable

>Outokumpu’s disappoints in Q2 2020 and launches a strategic review - Outokumpu reported a disappointing Q2 2020 EBITDA of € 45m (vs € 106m in Q1) as the group 1/ was forced to sell more ferrochrome on the spot market (less profitable than the benchmark), 2/ faced a temporary drop in the efficiency of its scrap utilisation rate (Europe BU) and 3/ had an unfavourable mix for the Americas BU. Management has provided no guidance for Q3 but expects a 10% drop in sequenti...

Alain William

ODDO : Le trio gagnant du T2 : Acerinox, Aperam et Outokumpu dans cet ordre. Un T3 attendu stable dans l’ensemble

>Outokumpu déçoit au T2 2020 et lance une revue stratégique - Outokumpu a publié un EBITDA décevant au T2 2020 à 45 M€ (vs 106 M€ au T1) car le groupe 1/ a été contraint de vendre plus de Ferrochrome sur le marché spot (moins profitable que le benchmark), 2/ a fait face à une baisse temporaire de son efficacité dans l’utilisation de la ferraille (BU Europe) et 3/ à un mix défavorable pour la BU Americas. Le management ne donne pas de guidance pour le T3 mais indique s...

Jean Sassus ...
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/10/2020

...

Jean Sassus ...
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/08/2020

...

Alain William ...
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jerôme Bodin

ODDO BHF Small & MIDCAP MORNING NEWS - 07/03/2020

Ecology and economic development are often depicted as opposing forces. The European Green Deal pulls off the feat of promoting the former to ensure the latter. Whilst its financing may have raised doubts, the prospect of the € 750bn recovery plan underpins its credibility. Better still, this plan, which proposes for the first time a pooling of debts, is revolutionary. Indeed, for the sectors and stocks concerned, it catalyses the cumulative effects of the additional activity that th...

Alain William ...
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jerôme Bodin

ODDO BHF Small & MIDCAP MORNING NEWS - 03/07/2020

On oppose souvent écologie et développement économique. Le pacte vert européen réussit le tour de force de promouvoir la première pour assurer le second. Si son financement a pu soulever des doutes, la perspective d’adoption du plan de recovery de 750 Md€ renforce sa crédibilité. Mieux, ce plan, qui propose pour la première fois une mutualisation des dettes, est révolutionnaire. En effet, il catalyse pour les secteurs et valeurs concernées, les effets cumulés du supplément d’activité ...

Alain William ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Nicolas David
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - DETAILED COMMENTS 04/27/2020

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ACERINOX SA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of ACERINOX SA (ES), a company active in the Steel industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 22, 2020, the closing price was EUR 6.77 and its potential was estimated at EUR 8.32.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Expert Corporate Governance Service (ECGS)

Acerinox – AGM 22 April 2020

In item 9, the Board asks for the authority to issue fixed-income instruments, including convertible bonds, with the power to exclude pre-emptive rights for a total amount of up to €3 billion. We have concerns over the possibility to increase the share capital without pre-emptive rights by up to 50%, which largely surpasses ECGS' limit of 10%. Therefore, we recommend opposition.   In item 12, shareholders are called for an annual advisory vote on the Directors' Remuneration Report. Concerns may arise over the lack of disclosure on the non-financial assessment metrics for variable remuneratio...

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