NSSMC’s 1Q Fiscal 2018 Beats Expectation, but Sequential Weaknesses Expected
Although Nippon Steel & Sumitomo Metal’s, or NSSMC’s, net profit of JPY 71.4 billion for first-quarter fiscal 2018 (ending March) exceeded our expectations on the back of rising steel prices, we retain our earnings forecasts, as we expect steel prices to fall sequentially to reflect weaker raw material prices and decelerating demand growth. We also think the current share price largely reflects the rebound to profit from a net loss a year ago, and the no-moat company remains overvalued. We t...Nippon Steel & Sumitomo Metal and its affiliates are mainly engaged in the manufacture and sale of steel products, chemicals and nonferrous metals. Co. is also involved in the engineering and construction works; the manufacture and sale of semiconductor components and materials, electronic components and materials, metal-processed products, and ceramic components and materials; the manufacture and sale of chemicals products, coke and coal tar chemicals products and electronic materials; and the provision of engineering and consulting services pertaining to computer systems.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.