Steel Dynamics, Inc. (STLD) to Post FY2017 Earnings of $2.72 Per Share, Jefferies Group Forecasts
Steel Dynamics, Inc. (NASDAQ:STLD) – Jefferies Group cut their FY2017 earnings per share estimates for Steel Dynamics in a research note issued to investors on Thursday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings per share of $2.72 for the year, down from their prior forecast of $2.75. Jefferies Group has a “Buy” rating and a $43.00 price target on the stock. Jefferies Group also issued estimates for Steel Dynamics’ Q4 2017 earnings at $0.61 EPS and FY2018 earnings at $3.31 EPS.
STLD has been the topic of a number of other research reports. 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. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research note on Friday. Citigroup Inc. reduced their target price on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, July 18th. Finally, Cowen and Company reiterated a “buy” rating and issued a $44.00 target price on shares of Steel Dynamics in a research note on Wednesday, July 19th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Steel Dynamics currently has an average rating of “Buy” and an average target price of $40.91.
Shares of Steel Dynamics (NASDAQ STLD) opened at 38.90 on Monday. The company has a 50-day moving average of $34.84 and a 200 day moving average of $35.01. The company has a market cap of $9.33 billion, a PE ratio of 17.87 and a beta of 1.29. Steel Dynamics has a 12-month low of $25.96 and a 12-month high of $40.17.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Saturday, September 30th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 28th. Steel Dynamics’s payout ratio is currently 28.57%.
In related news, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,018,902.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the sale, the director now directly 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.
A number of hedge funds have recently modified their holdings of STLD. UBS Asset Management Americas Inc. boosted its position in Steel Dynamics by 51.0% during the first quarter. UBS Asset Management Americas Inc. now owns 226,946 shares of the basic materials company’s stock valued at $7,889,000 after purchasing an additional 76,681 shares in the last quarter. Teachers Advisors LLC boosted its position in Steel Dynamics by 20.4% during the first quarter. Teachers Advisors LLC now owns 1,314,655 shares of the basic materials company’s stock valued at $45,697,000 after purchasing an additional 223,142 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Steel Dynamics by 3.0% during the first quarter. PNC Financial Services Group Inc. now owns 24,193 shares of the basic materials company’s stock valued at $839,000 after purchasing an additional 709 shares in the last quarter. Ngam Advisors L.P. boosted its position in Steel Dynamics by 38.7% during the first quarter. Ngam Advisors L.P. now owns 15,874 shares of the basic materials company’s stock valued at $552,000 after purchasing an additional 4,428 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in Steel Dynamics by 126.5% during the first quarter. Global X Management Co. LLC now owns 7,712 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 4,307 shares in the last quarter. 82.58% of the stock is currently owned by institutional investors.
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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