Steel Dynamics, Inc. Expected to Earn FY2017 Earnings of $2.62 Per Share (STLD)
Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at KeyCorp lifted their FY2017 EPS estimates for shares of Steel Dynamics in a report issued on Thursday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $2.62 for the year, up from their prior forecast of $2.52. KeyCorp currently has a “Overweight” rating and a $44.00 target price on the stock.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. TRADEMARK VIOLATION WARNING: This piece was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/23/steel-dynamics-inc-expected-to-earn-fy2017-earnings-of-2-62-per-share-stld.html.
STLD has been the subject of a number of other reports. Jefferies Group LLC reissued a “buy” rating and set a $43.00 target price (up from $42.00) on shares of Steel Dynamics in a research note on Saturday, July 22nd. Bank of America Corporation increased their target price on Steel Dynamics from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Citigroup Inc. cut their target price on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Morgan Stanley reissued a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, July 18th. Finally, Cowen and Company reissued a “buy” rating and set a $44.00 target price on shares of Steel Dynamics in a research note on Wednesday, July 19th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $40.91.
Shares of Steel Dynamics (STLD) opened at 38.90 on Monday. The stock has a 50 day moving average price of $34.84 and a 200-day moving average price of $35.01. The stock has a market capitalization of $9.33 billion, a PE ratio of 17.87 and a beta of 1.29. Steel Dynamics has a 52-week low of $25.96 and a 52-week high of $40.17.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Saturday, September 30th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Thursday, September 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.
In other news, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the sale, the insider now owns 26,778 shares in the company, valued at $1,018,902.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the sale, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. APG Asset Management N.V. acquired a new stake in shares of Steel Dynamics during the third quarter worth $9,800,000. Covenant Asset Management LLC boosted its holdings in Steel Dynamics by 8.5% in the third quarter. Covenant Asset Management LLC now owns 42,551 shares of the basic materials company’s stock valued at $1,467,000 after acquiring an additional 3,330 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Steel Dynamics by 4.5% in the third quarter. Meeder Asset Management Inc. now owns 64,782 shares of the basic materials company’s stock valued at $2,233,000 after acquiring an additional 2,789 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Steel Dynamics by 5.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 87,815 shares of the basic materials company’s stock valued at $3,026,000 after acquiring an additional 4,760 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in Steel Dynamics by 1.9% in the third quarter. Mutual of America Capital Management LLC now owns 250,366 shares of the basic materials company’s stock valued at $8,630,000 after acquiring an additional 4,694 shares during the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.
Steel Dynamics Company Profile
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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