Steel Dynamics Given New $22.00 Price Target at KeyCorp (STLD)
Analysts at KeyCorp boosted their target price on shares of Steel Dynamics (NASDAQ:STLD) from $21.00 to $22.00 in a research report issued to clients and investors on Wednesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. KeyCorp’s price objective indicates a potential upside of 26.37% from the stock’s previous close.
Shares of Steel Dynamics (NASDAQ:STLD) traded up 0.98% during mid-day trading on Wednesday, hitting $17.409. 5,140,399 shares of the company’s stock traded hands. Steel Dynamics has a 52 week low of $10.99 and a 52 week high of $17.26. The stock has a 50-day moving average of $15.91 and a 200-day moving average of $15.34. The company has a market cap of $3.844 billion and a price-to-earnings ratio of 25.58.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.13 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.13. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company posted $0.20 earnings per share. Steel Dynamics’s revenue was down 5.7% compared to the same quarter last year. Analysts expect that Steel Dynamics will post $0.86 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on STLD. Analysts at BMO Capital Markets initiated coverage on shares of Steel Dynamics (NASDAQ:STLD) in a research note to investors on Tuesday. They set a “market perform” rating and a $18.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Steel Dynamics (NASDAQ:STLD) from $16.00 to $18.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Finally, analysts at Wellington Shields initiated coverage on shares of Steel Dynamics (NASDAQ:STLD) in a research note to investors on Wednesday, September 4th. They set a “hold” rating on the stock.
Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $17.38.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.53%.
Steel Dynamics, Inc is a steel producer and metals recycler in the United States. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations.
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