Equities Analysts Issue Forecasts for Steel Dynamics Inc.’s FY2016 Earnings (STLD)
Steel Dynamics Inc. (NASDAQ:STLD) – Research analysts at KeyCorp boosted their FY2016 EPS estimates for Steel Dynamics in a research report issued on Monday. KeyCorp analyst P. Gibbs now expects that the firm will earn $2.10 per share for the year, up from their previous estimate of $2.00.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.02. The company earned $2.02 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.22 EPS.
STLD has been the subject of a number of other reports. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Thursday, July 7th. Bank of America Corp. cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Wednesday, July 20th. Credit Agricole SA decreased their price objective on Steel Dynamics from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Wednesday. Berenberg Bank restated a “buy” rating and set a $35.00 price objective on shares of Steel Dynamics in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. began coverage on Steel Dynamics in a research note on Monday, August 22nd. They set a “buy” rating and a $33.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $27.77.
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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 capitalization of $5.94 billion, a price-to-earnings ratio of 497.041 and a beta of 1.70. The stock’s 50-day moving average is $25.00 and its 200 day moving average is $24.55. Steel Dynamics has a 52 week low of $15.32 and a 52 week high of $28.01.
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 given a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. Steel Dynamics’s payout ratio is 1,120.00%.
In other Steel Dynamics news, Director Jurgen Dr Kolb sold 1,000 shares of Steel Dynamics stock in a transaction on Monday, July 25th. The stock was sold at an average price of $26.50, for a total value of $26,500.00. Following the sale, the director now owns 65,014 shares in the company, valued at $1,722,871. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith E. Busse sold 13,155 shares of Steel Dynamics stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.00, for a total value of $355,185.00. Following the completion of the sale, the director now owns 1,006,894 shares in the company, valued at approximately $27,186,138. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.
A number of large investors have recently bought and sold shares of STLD. Vanguard Group Inc. increased its stake in Steel Dynamics by 23.7% in the second quarter. Vanguard Group Inc. now owns 20,810,938 shares of the company’s stock worth $509,869,000 after buying an additional 3,982,588 shares in the last quarter. Boston Partners increased its stake in Steel Dynamics by 124.9% in the second quarter. Boston Partners now owns 11,042,580 shares of the company’s stock worth $270,544,000 after buying an additional 6,132,303 shares in the last quarter. BlackRock Fund Advisors increased its stake in Steel Dynamics by 6.2% in the second quarter. BlackRock Fund Advisors now owns 8,542,872 shares of the company’s stock worth $209,300,000 after buying an additional 496,570 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Steel Dynamics by 6.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,266,562 shares of the company’s stock worth $202,531,000 after buying an additional 508,330 shares in the last quarter. Finally, State Street Corp increased its stake in Steel Dynamics by 3.7% in the second quarter. State Street Corp now owns 7,602,249 shares of the company’s stock worth $186,255,000 after buying an additional 272,753 shares in the last quarter. Institutional investors own 82.42% of the company’s stock.
About Steel Dynamics
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