Steel Dynamics (STLD) Announces Quarterly Earnings Results, Meets Expectations
Steel Dynamics (NASDAQ:STLD) released its earnings data on Monday. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24, AR Network reports. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.86 billion.
STLD has been the subject of a number of recent research reports. Analysts at Thomson Reuters/Verus upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note to investors on Tuesday, December 24th. On a related note, analysts at Jefferies Group raised their price target on shares of Steel Dynamics from $18.00 to $20.00 in a research note to investors on Wednesday, December 4th. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 4th. They now have a $22.00 price target on the stock, up previously from $18.44. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.53.
Steel Dynamics (NASDAQ:STLD) traded down 2.83% on Monday, hitting $16.48. 6,213,919 shares of the company’s stock traded hands. Steel Dynamics has a 52-week low of $13.85 and a 52-week high of $19.74. The stock’s 50-day moving average is $18.76 and its 200-day moving average is $17.33. The company has a market cap of $3.658 billion and a price-to-earnings ratio of 19.72.
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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