Brokers Issue Forecasts for Steel Dynamics Inc.’s FY2016 Earnings (STLD)
Steel Dynamics Inc. (NASDAQ:STLD) – Research analysts at Credit Agricole SA decreased their FY2016 earnings per share (EPS) estimates for shares of Steel Dynamics in a note issued to investors on Tuesday. Credit Agricole SA analyst D. Lipschitz now anticipates that the firm will post earnings of $2.00 per share for the year, down from their prior forecast of $2.13. Credit Agricole SA currently has a “Market Perform” rating and a $27.00 price objective on the stock. Credit Agricole SA also issued estimates for Steel Dynamics’ FY2017 earnings at $2.10 EPS.
Several other equities research analysts have also recently commented on STLD. 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. Jefferies Group reissued a “buy” rating and set a $31.00 target price (up previously from $28.00) on shares of Steel Dynamics in a report on Friday, June 10th. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, June 28th. Barclays PLC reissued an “overweight” rating and set a $28.00 target price (up previously from $27.00) on shares of Steel Dynamics in a report on Tuesday, July 12th. Finally, Clarkson Capital reissued a “neutral” rating and set a $24.00 target price on shares of Steel Dynamics in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $27.77.
Shares of Steel Dynamics (NASDAQ:STLD) traded up 0.599% on Wednesday, hitting $24.355. The company had a trading volume of 1,089,237 shares. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 497.041 and a beta of 1.70. The company has a 50 day moving average of $25.00 and a 200-day moving average of $24.55. Steel Dynamics has a 12-month low of $15.32 and a 12-month high of $28.01.
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Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping the 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 return on equity of 10.79% and a net margin of 0.17%. During the same period last year, the company posted $0.22 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, September 28th. Steel Dynamics’s dividend payout ratio is currently 1,120.00%.
In other news, Director Keith E. Busse sold 13,155 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.00, for a total transaction of $355,185.00. Following the transaction, the director now directly owns 1,006,894 shares in the company, valued at approximately $27,186,138. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jurgen Dr Kolb sold 17,900 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $27.20, for a total transaction of $486,880.00. Following the transaction, the director now owns 65,014 shares in the company, valued at $1,768,380.80. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of STLD. Anchor Bolt Capital LP boosted its position in Steel Dynamics by 151.7% in the first quarter. Anchor Bolt Capital LP now owns 1,644,019 shares of the company’s stock valued at $37,007,000 after buying an additional 990,895 shares in the last quarter. State Street Corp raised its stake in Steel Dynamics by 7.0% in the first quarter. State Street Corp now owns 7,329,496 shares of the company’s stock valued at $164,995,000 after buying an additional 480,693 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Steel Dynamics by 99.3% in the first quarter. Panagora Asset Management Inc. now owns 1,319,918 shares of the company’s stock valued at $29,711,000 after buying an additional 657,640 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Steel Dynamics by 32.7% in the first quarter. TIAA CREF Investment Management LLC now owns 2,368,036 shares of the company’s stock valued at $53,304,000 after buying an additional 584,195 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in Steel Dynamics during the second quarter valued at about $286,000. Institutional investors and hedge funds own 82.42% of the company’s stock.
About Steel Dynamics
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