KeyCorp Comments on Steel Dynamics, Inc.’s FY2018 Earnings (STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at KeyCorp lowered their FY2018 earnings per share (EPS) estimates for shares of Steel Dynamics in a note issued to investors on Sunday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $3.41 per share for the year, down from their previous estimate of $3.50. KeyCorp has a “Buy” rating and a $49.00 price target on the stock.

Several other analysts have also commented on STLD. Citigroup lifted their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Cowen set a $43.00 price objective on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Friday, October 20th. Bank of America lifted their price objective on shares of Steel Dynamics from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Morgan Stanley set a $36.00 price objective on shares of Steel Dynamics and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Steel Dynamics presently has a consensus rating of “Buy” and a consensus target price of $46.64.

Shares of Steel Dynamics (NASDAQ STLD) traded up $0.14 during mid-day trading on Wednesday, reaching $44.86. 2,869,100 shares of the company’s stock traded hands, compared to its average volume of 2,427,723. The company has a market capitalization of $10,596.49, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. Steel Dynamics has a twelve month low of $32.15 and a twelve month high of $48.28.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quantitative Investment Management LLC bought a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $10,609,000. CoreCommodity Management LLC bought a new stake in Steel Dynamics during the 4th quarter worth approximately $146,000. Tide Point Capital Management LP bought a new stake in Steel Dynamics during the 4th quarter worth approximately $18,341,000. Driehaus Capital Management LLC bought a new stake in Steel Dynamics during the 4th quarter worth approximately $602,000. Finally, Profund Advisors LLC increased its holdings in Steel Dynamics by 24.7% during the 4th quarter. Profund Advisors LLC now owns 44,646 shares of the basic materials company’s stock worth $1,926,000 after acquiring an additional 8,832 shares during the period. 83.47% of the stock is currently owned by institutional investors.

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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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