Steel Dynamics Stock Rating Reaffirmed by Jefferies Group (STLD)
Steel Dynamics (NASDAQ:STLD)‘s stock had its “buy” rating reiterated by Jefferies Group in a research note issued on Thursday, Stock Ratings News reports. They currently have a $21.00 price objective on the stock. Jefferies Group’s price objective indicates a potential upside of 15.77% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating in a research note on Thursday. They now have a $24.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Steel Dynamics from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 22nd. They now have a $17.30 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $19.57.
Steel Dynamics (NASDAQ:STLD) opened at 18.14 on Thursday. Steel Dynamics has a 1-year low of $13.85 and a 1-year high of $19.74. The stock has a 50-day moving average of $18.22 and a 200-day moving average of $18.09. The company has a market cap of $4.045 billion and a price-to-earnings ratio of 22.84.
Steel Dynamics (NASDAQ:STLD) last released its earnings data on Wednesday, April 16th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Steel Dynamics will post $1.13 EPS 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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