Jefferies Group Weighs in on Steel Dynamics, Inc.’s Q4 2017 Earnings (STLD)
Steel Dynamics, Inc. (NASDAQ:STLD) – Stock analysts at Jefferies Group upped their Q4 2017 EPS estimates for shares of Steel Dynamics in a report issued on Thursday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings per share of $0.69 for the quarter, up from their prior estimate of $0.68. Jefferies Group currently has a “Buy” rating and a $43.00 target price on the stock.
STLD has been the topic of several other reports. Macquarie upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $38.00 to $44.00 in a research report on Monday, April 24th. Barclays PLC reiterated a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a research report on Friday, May 5th. Berenberg Bank reiterated a “buy” rating and set a $46.00 price objective on shares of Steel Dynamics in a research report on Monday, June 19th. Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, July 18th. Finally, BidaskClub cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Steel Dynamics currently has an average rating of “Buy” and an average price target of $39.78.
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Shares of Steel Dynamics (NASDAQ STLD) opened at 37.51 on Monday. The stock’s 50 day moving average price is $35.13 and its 200 day moving average price is $35.27. Steel Dynamics has a 12-month low of $22.79 and a 12-month high of $40.17. The firm has a market cap of $9.05 billion, a PE ratio of 17.23 and a beta of 1.25.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the firm earned $0.58 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis.
A number of large investors have recently modified their holdings of STLD. Nordea Investment Management AB acquired a new stake in shares of Steel Dynamics during the first quarter worth about $1,546,000. Hennessy Advisors Inc. acquired a new stake in shares of Steel Dynamics during the first quarter worth about $3,639,000. Airain ltd boosted its stake in shares of Steel Dynamics by 855.0% in the first quarter. Airain ltd now owns 245,479 shares of the basic materials company’s stock worth $8,533,000 after buying an additional 219,774 shares in the last quarter. Affinity Wealth Management acquired a new stake in shares of Steel Dynamics during the first quarter worth about $265,000. Finally, KBC Group NV acquired a new stake in shares of Steel Dynamics during the first quarter worth about $790,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 30th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Wednesday, June 28th. Steel Dynamics’s dividend payout ratio is presently 28.57%.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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