Research Analysts Offer Predictions for Steel Dynamics, Inc.’s Q3 2016 Earnings (STLD)
Steel Dynamics, Inc. (NASDAQ:STLD) – KeyCorp decreased their Q3 2016 earnings estimates for shares of Steel Dynamics in a research note issued to investors on Monday. KeyCorp analyst P. Gibbs now forecasts that the brokerage will post earnings of $0.66 per share for the quarter, down from their prior forecast of $0.68. KeyCorp also issued estimates for Steel Dynamics’ Q4 2016 earnings at $0.50 EPS.
A number of other analysts have also commented on the company. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Thursday, July 7th. Bank of America Corp. lowered Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Wednesday, July 20th. Berenberg Bank set a $35.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday. 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 report on Wednesday. Finally, Cowen and Company set a $33.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.77.
Steel Dynamics (NASDAQ:STLD) traded up 0.664% during mid-day trading on Thursday, reaching $25.015. The company had a trading volume of 1,474,832 shares. The stock has a market capitalization of $6.10 billion, a PE ratio of 510.510 and a beta of 1.70. The company’s 50-day moving average is $24.95 and its 200-day moving average is $24.56. Steel Dynamics has a one year low of $15.32 and a one year high of $28.01.
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Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results 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 earned $2.02 billion during the quarter, compared to analysts’ expectations 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 firm posted $0.22 EPS.
The firm 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 $0.14 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.25%. Steel Dynamics’s dividend payout ratio (DPR) is presently 1,120.00%.
In related news, Director Jurgen Dr Kolb sold 1,000 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith E. Busse sold 13,155 shares of the stock in a transaction 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 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. 4.10% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Boston Partners increased its stake in shares of 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 during the period. Norges Bank acquired a new stake in shares of Steel Dynamics during the fourth quarter worth about $84,058,000. Vanguard Group Inc. increased its stake in shares of 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 during the period. Bank of Montreal Can acquired a new stake in shares of Steel Dynamics during the second quarter worth about $45,158,000. Finally, Prudential Financial Inc. increased its stake in shares of Steel Dynamics by 69.9% in the second quarter. Prudential Financial Inc. now owns 3,465,741 shares of the company’s stock worth $84,910,000 after buying an additional 1,425,548 shares during the period. Institutional investors own 82.42% of the company’s stock.
About Steel Dynamics
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