Steel Dynamics Inc. (STLD) Forecasted to Post FY2017 Earnings of $1.77 Per Share
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.
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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
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