voestalpine AG

voestalpine is engaged in the production, processing, and distribution of materials made of steel and in research and development in the areas of metallurgy, metal processing, and materials technology. Co.'s steel division focuses on the production and processing of flat steel products. Co.'s special steel division is involve in tool steel and high-speed steel. Co.'s metal engineering division is engaged in turnout technology, rails and treated wire, and tubes. Co.'s metal forming division is involve in tube products and precision strip steel as well as pre-finished system components. Co.'s other activities include heavy plate production, a foundry, and a number of downstream processes.
  • TickerVOE
  • ISINAT0000937503
  • ExchangeVienna Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountryAustria

Analysts

Voestalpine Ag: 2 directors bought

Two Directors at Voestalpine Ag bought 2,760 shares at between 21.097EUR and 21.500EUR. The significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rule...

voestalpine confirmed at HOLD, TP EUR 24.5 - Model update: Neutral stance unchanged after 3Q results

In the aftermath of mostly in-line 3Q 19/20 figures we confirm the HOLD recommendation and the target price of EUR 24.5 for voestalpine. Except for a (primarily) tax-driven EPS beat, 3Q figures contained no major surprises, in our view. Impairments and (restructuring) provisions were slightly lower than flagged (EUR 345 mn vs. EUR 360 mn). The worst in terms of steel margin pressure seems behind us, but at the same time we do not consider the risk-reward profile attractive enough to return as buyers. CEO Eibensteiner was vocal that re-stocking demand at the beginning of the calendar year (i.e....

Alain William

ODDO : Growth and late-cycle commodities: favour AngloAmerican

The coronavirus epidemic added to an already uncertain economic/geopolitical outlook is prompting us to play late-cycle commodities/stocks. We are upgrading AngloAmerican to Buy (vs Neutral) for its exposure to platinoids, diamonds and thermal coal. We are downgrading BHP to Reduce (vs Neutral) for its exposure to iron ore and oil, which are more sensitive to macroeconomics. We maintain our Buy on Eramet, which will benefit from the upturn in manganese and nickel prices. - >§p...

Alain William

ODDO : Croissance et commodités late cycle : privilégier AngloAmerican

L'épidémie de coronavirus ajoutée à des perspectives économiques/géopolitiques déjà incertaines nous incitent à jouer les commodités/valeurs "late cycle". Nous relevons AngloAmerican à Achat (vs Neutre) pour son exposition aux platinoïdes, diamants et charbon thermique. Nous dégradons BHP à Alléger (vs Neutre) très exposé au minerai de fer et au pétrole, plus sensibles à la macroéconomie. Nous demeurons à l’Achat sur Eramet qui profitera de la remontée des prix du manganèse et du...

Alain William

ODDO : Growth and late-cycle commodities: favour AngloAmerican

The coronavirus epidemic added to an already uncertain economic/geopolitical outlook is prompting us to play late-cycle commodities/stocks. We are upgrading AngloAmerican to Buy (vs Neutral) for its exposure to platinoids, diamonds and thermal coal. We are downgrading BHP to Reduce (vs Neutral) for its exposure to iron ore and oil, which are more sensitive to macroeconomics. We maintain our Buy on Eramet, which will benefit from the upturn in manganese and nickel prices. - >§p...

voestalpine confirmed at HOLD, TP EUR 24.5 - Model update: Neutral stance unchanged after 3Q results

In the aftermath of mostly in-line 3Q 19/20 figures we confirm the HOLD recommendation and the target price of EUR 24.5 for voestalpine. Except for a (primarily) tax-driven EPS beat, 3Q figures contained no major surprises, in our view. Impairments and (restructuring) provisions were slightly lower than flagged (EUR 345 mn vs. EUR 360 mn). The worst in terms of steel margin pressure seems behind us, but at the same time we do not consider the risk-reward profile attractive enough to return as buyers. CEO Eibensteiner was vocal that re-stocking demand at the beginning of the calendar year (i.e....

Alain William

ODDO : Growth and late-cycle commodities: favour AngloAmerican

The coronavirus epidemic added to an already uncertain economic/geopolitical outlook is prompting us to play late-cycle commodities/stocks. We are upgrading AngloAmerican to Buy (vs Neutral) for its exposure to platinoids, diamonds and thermal coal. We are downgrading BHP to Reduce (vs Neutral) for its exposure to iron ore and oil, which are more sensitive to macroeconomics. We maintain our Buy on Eramet, which will benefit from the upturn in manganese and nickel prices. - >§p...

Alain William

ODDO : Croissance et commodités late cycle : privilégier AngloAmerican

L'épidémie de coronavirus ajoutée à des perspectives économiques/géopolitiques déjà incertaines nous incitent à jouer les commodités/valeurs "late cycle". Nous relevons AngloAmerican à Achat (vs Neutre) pour son exposition aux platinoïdes, diamants et charbon thermique. Nous dégradons BHP à Alléger (vs Neutre) très exposé au minerai de fer et au pétrole, plus sensibles à la macroéconomie. Nous demeurons à l’Achat sur Eramet qui profitera de la remontée des prix du manganèse et du...

Alain William

ODDO : Growth and late-cycle commodities: favour AngloAmerican

The coronavirus epidemic added to an already uncertain economic/geopolitical outlook is prompting us to play late-cycle commodities/stocks. We are upgrading AngloAmerican to Buy (vs Neutral) for its exposure to platinoids, diamonds and thermal coal. We are downgrading BHP to Reduce (vs Neutral) for its exposure to iron ore and oil, which are more sensitive to macroeconomics. We maintain our Buy on Eramet, which will benefit from the upturn in manganese and nickel prices. - >§p...

Alain William

ODDO : Croissance et commodités late cycle : privilégier AngloAmerican

L'épidémie de coronavirus ajoutée à des perspectives économiques/géopolitiques déjà incertaines nous incitent à jouer les commodités/valeurs "late cycle". Nous relevons AngloAmerican à Achat (vs Neutre) pour son exposition aux platinoïdes, diamants et charbon thermique. Nous dégradons BHP à Alléger (vs Neutre) très exposé au minerai de fer et au pétrole, plus sensibles à la macroéconomie. Nous demeurons à l’Achat sur Eramet qui profitera de la remontée des prix du manganèse et du...

Voestalpine Ag: 2 directors bought

Two Directors at Voestalpine Ag bought 2,760 shares at between 21.097EUR and 21.500EUR. The significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rule...

Alain William ...
  • Alexandre Iatrides
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF Small & MIDCAP MORNING NEWS - 02/06/2020

...

Alain William ...
  • Alexandre Iatrides
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF Small & MIDCAP MORNING NEWS - 06/02/2020

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Bruno Cavalier
  • Delphine Brault
  • Michael Foundoukidis
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/27/2020

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Bruno Cavalier
  • Delphine Brault
  • Michael Foundoukidis
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/01/2020

...

Alain William ...
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2019

...

Thanks to a better fundamental star rating, VOESTALPINE AG sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to VOESTALPINE AG (AT), active in the Steel industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date October 25, 2019, the closing price was EUR 22.97 and its expected value was estimated at EUR 21.52.

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 week...

Expert Corporate Governance Service (ECGS)

VOESTALPINE, 03 July 2019

Item 4: We recommend to oppose the discharge of the Supervisory Board as we have concerns over the Management Board's remuneration system - both regarding transparency and content. Items 6.1-6.8: We recommend to oppose the (re-)election of all candidates to the Supervisory Board due to independence concerns, concerns over aggregate time commitments and/or over insufficient information provided about the candidates. Items 9 and 11: We recommend to oppose the creation of a new authorised and a new conditional capital as the potential dilution level may exceed our guidelines.  

VOESTALPINE – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

PROXY REPORT 04/07/2018

Item 4: Since there is no vote on Management Board members' remuneration in Austria, we take the opportunity to voice our concerns regarding the remuneration system currently in place at Voestalpine AG which we consider has several shortcomings: The maximum short-term incentive may reach as much as 250% of base salary for the CEO and 200% of base salary for the other Management Board members which exceeds ECGS guidelines. Furthermore, there is no long-term incentive (LTI) in place. Finally with regard to pension benefits, as of financial year 2017/18 in the case of re-appointment of a Manageme...

Expert Corporate Governance Service (ECGS)

Etude l' AG du 05/07/2017

Item 4: Since there is no regular vote on Management Board members' remuneration in Austria, we take the opportunity to voice our concerns regarding the remuneration system for Management Board members currently in place at Voestalpine AG within the discharge of the Supervisory Board: The maximum short-term incentive may reach as much as 250% of base salary for the CEO and 200% of base salary for the other Management Board members which exceeds ECGS guidelines according to which the maximum annual bonus should not exceed 150% of base salary. Furthermore, there is no long-term incentive in plac...

Shelley Moen

Vermilion Int'l Compass: Global Equity Strategy

Weekly summary of Vermilion's global technical equity strategy calls, including sector weightings, from both a top down and bottoms up perspective. For a trial to Vermilion Research visit our website at www.vermilioncap.com or contact our sales team at (952) 922-7500.

Shelley Moen

Insights: Bullish EAFE Stocks

• Today's report is a bottom-up compilation of technically attractive EAFE stocks, with one fundamental kicker: each name is accompanied by positive momentum in their FY EPS estimates... see screen on pages 2-7 • We screened for stocks whose latest EPS estimate is higher than last week's, which in turn is greater than the prior month's estimate. From this list, which was rich in relative leaders, we picked out the names that were either (1) breaking out from, or (2) pulling back to base support levels... see charts on pages 8-25 • Group themes present in this screen: o Metal Miners: Steel, ...

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