Steel Dynamics Inc. (NASDAQ:STLD) – Investment analysts at KeyCorp reduced their FY2017 earnings per share (EPS) estimates for Steel Dynamics in a research note issued on Monday. KeyCorp analyst P. Gibbs now anticipates that the firm will post earnings of $1.77 per share for the year, down from their prior forecast of $1.80.

Other research analysts have also issued reports about the company. Bank of America Corp. reaffirmed a “hold” rating and set a $27.00 target price on shares of Steel Dynamics in a report on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $31.00 target price (up from $28.00) on shares of Steel Dynamics in a report on Friday, June 10th. Rosenblatt Securities began coverage on Steel Dynamics in a report on Wednesday, June 1st. They set a “buy” rating and a $21.00 target price on the stock. Cowen and Company lifted their target price on Steel Dynamics from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, July 20th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $28.00 target price (up from $27.00) on shares of Steel Dynamics in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. Steel Dynamics currently has an average rating of “Buy” and a consensus target price of $27.81.

Shares of Steel Dynamics (NASDAQ:STLD) traded down 0.74% on Tuesday, hitting $24.12. 3,289,694 shares of the stock traded hands. Steel Dynamics has a one year low of $15.32 and a one year high of $28.01. The company’s 50 day moving average is $25.06 and its 200 day moving average is $24.52. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 492.24 and a beta of 1.70.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/steel-dynamics-inc-stld-forecasted-to-post-fy2017-earnings-of-1-77-per-share.html

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. During the same period in the prior year, the firm posted $0.22 EPS.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in shares of Steel Dynamics during the second quarter worth $1,923,000. KAMES CAPITAL plc bought a new position in shares of Steel Dynamics during the second quarter worth $14,849,000. Mason Street Advisors LLC bought a new position in shares of Steel Dynamics during the second quarter worth $2,721,000. Royal Bank of Canada increased its position in shares of Steel Dynamics by 12.0% in the second quarter. Royal Bank of Canada now owns 1,589,888 shares of the company’s stock worth $38,952,000 after buying an additional 169,904 shares during the last quarter. Finally, Cohen & Steers Inc. bought a new position in shares of Steel Dynamics during the second quarter worth $6,725,000. 82.54% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Keith E. Busse sold 13,155 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $27.00, for a total value of $355,185.00. Following the transaction, the director now directly owns 1,006,894 shares of the company’s stock, valued at approximately $27,186,138. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jurgen Dr Kolb sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $26.50, for a total value of $26,500.00. Following the completion of the transaction, the director now directly owns 65,014 shares in the company, valued at $1,722,871. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.30%. Steel Dynamics’s payout ratio is 1,120.00%.

Steel Dynamics Company Profile

5 Day Chart for NASDAQ:STLD

Receive News & Ratings for Steel Dynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.