Steel Dynamics Upgraded to “Buy” at Jefferies Group (STLD)
Steel Dynamics (NASDAQ:STLD) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
Separately, 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.46.
Shares of Steel Dynamics (NASDAQ:STLD) traded up 0.94% on Wednesday, hitting $16.11. The stock had a trading volume of 3,029,487 shares. Steel Dynamics has a one year low of $13.85 and a one year high of $19.74. The stock’s 50-day moving average is $18.24 and its 200-day moving average is $17.41. The company has a market cap of $3.581 billion and a P/E ratio of 19.23.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, January 27th. The company reported $0.24 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.24. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts predict that Steel Dynamics will post $1.30 earnings per share for the current fiscal year.
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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