Q4 2016 EPS Estimates for Steel Dynamics Inc. Lowered by Jefferies Group (STLD)
Steel Dynamics Inc. (NASDAQ:STLD) – Stock analysts at Jefferies Group dropped their Q4 2016 earnings estimates for Steel Dynamics in a note issued to investors on Thursday. Jefferies Group analyst S. Rosenfeld now expects that the brokerage will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.60. Jefferies Group has a “Buy” rating and a $28.00 price objective on the stock. Jefferies Group also issued estimates for Steel Dynamics’ Q1 2017 earnings at $0.38 EPS, Q2 2017 earnings at $0.42 EPS, Q3 2017 earnings at $0.32 EPS and Q4 2017 earnings at $0.27 EPS.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business posted $0.22 earnings per share.
Other research analysts have also recently issued reports about the stock. Rosenblatt Securities began coverage on shares of Steel Dynamics in a research note on Wednesday, June 1st. They issued a “buy” rating and a $21.00 target price on the stock. Cowen and Company upped their price target on shares of Steel Dynamics from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, July 20th. Barclays PLC restated an “overweight” rating and set a $28.00 price target (up from $27.00) on shares of Steel Dynamics in a research note on Tuesday, July 12th. Berenberg Bank restated a “buy” rating and set a $35.00 price target on shares of Steel Dynamics in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Saturday, August 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $27.86.
Shares of Steel Dynamics (NASDAQ:STLD) opened at 24.30 on Monday. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 495.92 and a beta of 1.70. The firm has a 50-day moving average of $25.06 and a 200-day moving average of $24.52. Steel Dynamics has a 12 month low of $15.32 and a 12 month high of $28.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.30%. Steel Dynamics’s dividend payout ratio (DPR) is 1,120.00%.
In other news, Director Jurgen Dr Kolb sold 1,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $26.50, for a total value of $26,500.00. Following the completion of the sale, the director now owns 65,014 shares of the company’s stock, valued at approximately $1,722,871. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith E. Busse sold 13,155 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.00, for a total transaction of $355,185.00. Following the completion of the sale, the director now directly owns 1,006,894 shares of the company’s stock, valued at approximately $27,186,138. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Boston Partners boosted 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 valued at $270,544,000 after buying an additional 6,132,303 shares during the last quarter. Norges Bank purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at $84,058,000. Vanguard Group Inc. boosted 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 valued at $509,869,000 after buying an additional 3,982,588 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Steel Dynamics during the second quarter valued at $45,158,000. Finally, Prudential Financial Inc. boosted 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 valued at $84,910,000 after buying an additional 1,425,548 shares during the last quarter. 82.54% of the stock is owned by institutional investors.
About Steel Dynamics
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