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

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 3 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 April 5, 2019, the closing price was EUR 29.33 and its expected value was estimated at EUR 27.52.

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 03/27/2019

...

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 27/03/2019

...

Alain William ...
  • Christophe-Raphaël Ganet
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/27/2019

We are downgrading our recommendation on E.ON to Neutral after being on Buy since the tie-up with innogy was announced in March 2018. We currently believe that the official synergies (€ 600m-800m) are no longer a catalyst for creating value after the difficulties encountered by innogy over the past 18 months. As such, value creation for the shareholder is only possible via additional synergies (€ 150m-300m) and even then it would be limited to 2-16% compared to the current share price...

Alain William ...
  • Christophe-Raphaël Ganet
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/03/2019

Nous dégradons notre recommandation à Neutre après avoir été à l’Achat sur le titre depuis l’annonce du rapprochement avec innogy en mars 2018. Nous estimons à présent que les synergies officielles (600 à 800 M€) ne constituent plus un catalyseur de création de valeur après les difficultés rencontrées par innogy au cours des 18 derniers mois. Seule la prise en compte de synergies additionnelles (de 150 à 300 M€) permettrait de créer de la valeur pour l’actionnaire mais dans une propor...

Alain William

ODDO : Vale’s FY 2019 production could be down materially

>Vale’s FY 2018 iron ore production falls slightly short of the guidance - At Vale (NR), FY 2018 iron ore fine production increased in 2018, reaching 385mt i.e. up 5% y1eo1ey but below the earlier guidance of 390mt. Pellet production reached 55.3mt, i.e. +10% y1eo1ey. Vale’s guidance figure for production in 2019 was 400mt before the accident at the Córrego do Feijão mine in the city of Brumadinho (Brazilian south-eastern state of Minas Gerais) on January 25....

Alain William

ODDO : Vale’s FY 2019 production could be down materially

>Vale’s FY 2018 iron ore production falls slightly short of the guidance - At Vale (NR), FY 2018 iron ore fine production increased in 2018, reaching 385mt i.e. up 5% y1eo1ey but below the earlier guidance of 390mt. Pellet production reached 55.3mt, i.e. +10% y1eo1ey. Vale’s guidance figure for production in 2019 was 400mt before the accident at the Córrego do Feijão mine in the city of Brumadinho (Brazilian south-eastern state of Minas Gerais) on January 25....

Alain William

ODDO : Upward revision to our forecasts for iron ore

The tragedy which struck the Brumadinho complex (state of Minas Gerais in Brazil) belonging to mining giant Vale has radically changed the fundamentals underpinning supply and demand in the iron ore market. Accordingly we are revising up our price scenario for 2019-2021 by 15% on average and are adopting a Neutral recommendation on Rio Tinto (vs Reduce) which has the greatest exposure. We are sticking with our Buy recommendation on ArcelorMittal. - >The Brumadinho tragedy ...

Alain William

ODDO : Révision à la hausse de nos attentes sur le minerai de fer

La tragédie du complexe minier de Brumadinho (Etat du Minas Gerais au Brésil) appartenant au géant minier Vale change radicalement les fondamentaux offre/demande du marché du minerai de fer. Aussi, nous relevons en moyenne de 15% notre scénario de prix pour 2019/2021e et adoptons une opinion Neutre sur Rio Tinto (vs Alléger) qui y est le plus exposé. Nous maintenons notre Achat sur ArcelorMittal. - >La tragédie de Brumadinho change la donne - La rupture d’un barrage s...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • Emira Sagaama
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Tegner
  • Pierre Corby
  • Rémi Adam
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/20/2019

We feel that Bouygues’ stock-market performance reflects unwarranted negative sentiment: (i) prospects in construction overshadowed by an excessive response to the profit warning (€ 1.9bn in market cap wiped out for € 123m in one-offs); (ii) resilience in telecoms, with a growth driver in B2B; (iii) generous dividend from Alstom in the coming year (€ 6.5 per share); and (iv) a low in the TF1 share price. With a FCF yield of 9% and a dividend yield of 5.8%, it is a good deal and a rare...

1 director bought

A director at Voestalpine Ag bought 900 shares at 27.100EUR and the significance rating of the trade was 52/100. 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 rules. The names of board ...

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 03/27/2019

...

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 27/03/2019

...

Alain William ...
  • Christophe-Raphaël Ganet
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/27/2019

We are downgrading our recommendation on E.ON to Neutral after being on Buy since the tie-up with innogy was announced in March 2018. We currently believe that the official synergies (€ 600m-800m) are no longer a catalyst for creating value after the difficulties encountered by innogy over the past 18 months. As such, value creation for the shareholder is only possible via additional synergies (€ 150m-300m) and even then it would be limited to 2-16% compared to the current share price...

Alain William ...
  • Christophe-Raphaël Ganet
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/03/2019

Nous dégradons notre recommandation à Neutre après avoir été à l’Achat sur le titre depuis l’annonce du rapprochement avec innogy en mars 2018. Nous estimons à présent que les synergies officielles (600 à 800 M€) ne constituent plus un catalyseur de création de valeur après les difficultés rencontrées par innogy au cours des 18 derniers mois. Seule la prise en compte de synergies additionnelles (de 150 à 300 M€) permettrait de créer de la valeur pour l’actionnaire mais dans une propor...

Ahmed Ben Salem ...
  • Alain William
  • Alexandre Iatrides
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Martial Descoutures
  • Olivier Lebrun
  • Pierre Tegner
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/01/2019

...

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 3 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 April 5, 2019, the closing price was EUR 29.33 and its expected value was estimated at EUR 27.52.

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...

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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