BSL - Bluescope Steel

[cruise61]

The current share price does not reflect on bluescopes forcast for 09

All steel related industries are feeling the bight but Bluescpe had a nice profit 08 and are in a very good position to ride out the storm.

Personally i think they are way under valued as lets face it people will always want new cars and houses its the nature of the beast to want what your mates got ,or if my neighbor can afford a new car i can .

They are AUST biggest steel maker exporter , they have made a 10 year deal with BHP for ore at below market rates ,so that alone says to me they will be around well after the meltdown is over.

I am more than content to sit on my shares for a year or 2 and watch them grow back to a fair and decent price and i may even increase my portfolio

Some good deals out there at the moment

 

[cruise61]

Been pondering over this one a bit not sure just yet ,lets hope i dont leave run late ,this was an article fri 17th oct

(BSL.AX


BLUESCOPE STEEL20 October,200820/10/2008 05:05 Sydney, Australia.
Price Change % Change
4.400 -0.200 -4.350%

Company overview
Real-time quote
BSL.AX , 4.400, -0.200, -4.350%) - BLUESCOPE STEEL LIMITED

Credit Suisse rates (BSL.AX


BLUESCOPE STEEL20 October,200820/10/2008 05:05 Sydney, Australia.
Price Change % Change
4.400 -0.200 -4.350%

Company overview
Real-time quote
BSL.AX , 4.400, -0.200, -4.350%) as Outperform - The broker notes there are rumours the group's US operations are cutting production and it will look for an update on this at next month's AGM. It makes no changes to its numbers on this basis but has cut its forecasts to reflect commodity steel price weakness. Despite the earnings changes there is no change to the broker's Outperform rating or $8.00 price target.

Makes it hard to go past when it sits half that decisions decisions

 

[chops_a_must]

I was at a family friends steel business on the weekend, and they reckon things are looking pretty bad.

They've had a great run over the last few years here in Perth, but apparently the last 2 weeks have been absolutely shocking. Things drying up from all ends.

I was seriously looking at BSL before I heard that. Probably wont be now...

 

[cruise61]

I was at a family friends steel business on the weekend, and they reckon things are looking pretty bad.

They've had a great run over the last few years here in Perth, but apparently the last 2 weeks have been absolutely shocking. Things drying up from all ends.

I was seriously looking at BSL before I heard that. Probably wont be now...

Yeh agreed i think the last 2 weeks have been shocking for all off us

I think with the new first home buyers grant increase that should help the industry a bit.

Guess the good thing about bluescope is their stabilty in the market and there cash flow .

Could be a good long termer?

Guess time will tell

 

[kingyuri]

So this one has fallen to a 12 month low today after the share placement with a loss of value of over 25%. This captures the capital raising, and I expect the resignation of the Exec - so to me this looks like an interesting one to watch. Would expect it to bounce back a little like RIO - could be money to make in the short term if you're willing the gamble!!

 

[Stomper]

I expect the resignation of the Exec

Which Exec is going to resign and why........................................?

Not sure you can place the blame for the share price fall on the head of any executive - given that it was pumped up on the back of demand exceeding supply and a positive growth outlook.

The collapse of global demand due to the Credit Crisis can hardly be blamed on these executives. I'm more interested in how the BSL Executives are handling the crisis and are they the best ones placed to protect shareholder value under these circumstances.

The ones that should be held accountable are those in the financial community who have been negligent or at worst, fraudulent.

 

[kingyuri]

Straight from bluescopesteel.com:

BlueScope Steel today advised that Mr Paul Rizzo, has resigned for personal reasons unrelated to the company. The resignation is effective from today.

BlueScope Steel Chairman, Mr Graham Kraehe AO, said the company's succession plan had been for Mr Doug Jukes to take over from Mr Rizzo, as Chair of the company's Audit and Risk Committee. This appointment is effective from today.

Never good news... hope there's nothing untoward..

 

[alphaman]

The collapse of global demand due to the Credit Crisis can hardly be blamed on these executives.

True. But in the same vein, why did the execs take credit when BSL "was pumped up on the back of demand exceeding supply and a positive growth outlook"?

With so much literature on performance measurement and compensation, you would have expected the directors to have it figured out by now. But it seems that all the directors do are making sure their mates get paid well. And they complain about the burden of complying with corporate governance.

 

[white_crane]

There has been huge volume on BSL in the last two days. Might be worth a punt for a short term gain.

 

[M34N]

Another stock I've been watching closely is BSL. This one closed today at a record low, that is in the 7 years or so it has been listed it has never seen this price. Will be interesting to see where it finds a floor.

Today's price action was very disturbing, and seeing it go from +4% at the open to -7.5% at the close says a lot. Either it rebounds hard from here or we could see some selling well under the $2.00 range. Waiting to see some signs of a bottom with solid volume before entering a long position. Doesn't look like there are many short positions open on BSL either so it most likely seems to be long-term investors piling out.

Been under performing a lot over the past couple weeks. I understand their profit results released the other day were pretty ordinary, but did they warrant these falls? Anyone else watching this or have an opinion?

 

[M34N]

So another month or two have passed since it bottomed at around $2.05, and it still looks a bit shaky IMO. Watching the EMA it looks to be narrowing and seems (slightly) more bullish than before, and the volume has been on the increase slowly since then. Seems to be trending down in this channel for the past 6 months and hitting lower highs wit lower lows.

Have traded this one a couple times in the past few weeks for a few $, and has interestingly been traveling mostly sideways in the past month while the rest of the market has mostly gone higher. Says a lot about these types of stocks, doesn't it? Also noticed a couple brokers in the weekend papers recommending a sell on BSL and OST, a sign to buy in? Reckon it could bounce a little from here for some reason, mostly a gut feeling, but $3.00 level would be a serious level of resistance. Looks like a narrowing trading band with a bias downwards, so either another big drop from here or a breakout to the upside? Watching eagerly on this one.

 

[ands]

Well she was being sold down yesterday and it is continuing today. No news out. What's going on? There seems to be no support!

 

[Taltan]

Looks to me like another share dilution scheme is on the way. After the last raising at $3.10 prior to the release of bad results investors probably aren't exactly in awe of management

 

[ands]

BSL.AX , 2.290, -0.200, -8.030%) dropped 4.8 percent to A$2.37 and its main rival OneSteel (OST.AX , 2.090, -0.180, -7.930%) fell 4.4 percent to A$2.17, partly on worries about the costs of a carbon trading scheme due to start in Australia next year. A report in The Australian newspaper said BlueScope chairman Graham Kraehe attacked the continued commitment to an emissions trading plan and said it could cost thousands of jobs.

This might explain it...

 

[M34N]

I'll be looking to buy in on BSL at somewhere around 2.00, if the trend down continues, I would be expecting a solid bounce off that price. Unless of course the rumours of a share selling scheme are true and it is much lower than being factored in at the moment. I've heard other rumours floating around about BSL but won't speculate on it as the forum does not permit that, but they sound interesting and it has caught my attention!

ands; I don't think it's the carbon scheme affecting the price this much, the share placement scheme seems to be the catalyst here for it IMO, it started yesterday before this report was published.

 

[johannlo]

I think if you go long term anything below 3 is a decent buy. I got in at 2.60 and don't regret it even with today's savaging.

Of course if you are a trader then obviously theres lots of better ways to make money quicker. But for a relatively low risk, long term pick BSL looks pretty good in my eyes (way better than OST). P/E of 2 for our biggest steelmaker and distributor is insane.

 

[ands]

I'll be looking to buy in on BSL at somewhere around 2.00, if the trend down continues, I would be expecting a solid bounce off that price.

Hope you don't get your $2 target... bought yesterday at $2.54 and have endured 2 days of pain. Just glad I took my profits when I held it from $8 to $11.22. Still a quality company, will be good long term, but will be interesting to see their next results report...

 

[Albi]

hi
After reading recommandations and watching everyday lower to lowest, I sold my stock in big loss at 2.60. But thanks god I sold it earlier otherwise for not selling. I feel it will go around 2$ or might be less.

 

[ands]

Sold yesterday at $2.565 (emissions scheme, debt, rumours of a spp, all became too much) and now they go into a trading halt and announce a 1 for 1 SPP plan offer at $1.55. Does not look good for current SP. 40% discount! Maybe I can jump in again soon.

 

[captluthra]

How do you think its going to open on thursday. Up or Down. And after 1 for 1 offer how is the stock price going to be impacted.