Steel Dynamics, Inc. (STLD) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Steel Dynamics, Inc. (NASDAQ:STLD) in a report issued on Saturday. Jefferies Group LLC currently has a $43.00 price target on the basic materials company’s stock, up from their previous price target of $42.00. Jefferies Group also issued estimates for Steel Dynamics’ Q2 2017 earnings at $0.67 EPS, Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.68 EPS, Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $2.83 EPS and FY2018 earnings at $2.62 EPS.
A number of other analysts have also weighed in on STLD. Zacks Investment Research upgraded shares of Steel Dynamics from a hold rating to a buy rating and set a $37.00 target price on the stock in a research note on Friday, April 21st. Macquarie upgraded shares of Steel Dynamics from a neutral rating to an outperform rating and upped their target price for the stock from $38.00 to $44.00 in a research note on Monday, April 24th. Cowen and Company upped their target price on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock an outperform rating in a research note on Monday, April 24th. BMO Capital Markets restated a buy rating and set a $48.00 target price on shares of Steel Dynamics in a research note on Monday, April 24th. Finally, Barclays PLC restated a buy rating and set a $43.00 target price on shares of Steel Dynamics in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. Steel Dynamics currently has an average rating of Buy and an average price target of $39.78.
Steel Dynamics (NASDAQ STLD) opened at 38.09 on Friday. The company has a 50-day moving average of $35.32 and a 200 day moving average of $35.26. Steel Dynamics has a 1-year low of $22.79 and a 1-year high of $40.17. The stock has a market cap of $9.19 billion, a P/E ratio of 17.50 and a beta of 1.25.
Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts predict that Steel Dynamics will post $2.86 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 30th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, June 28th. Steel Dynamics’s payout ratio is currently 28.57%.
Several large investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC purchased a new stake in Steel Dynamics during the second quarter valued at $249,000. Parkwood LLC increased its stake in Steel Dynamics by 56.4% in the second quarter. Parkwood LLC now owns 32,349 shares of the basic materials company’s stock valued at $1,158,000 after buying an additional 11,669 shares during the last quarter. Boston Advisors LLC increased its stake in Steel Dynamics by 35.9% in the second quarter. Boston Advisors LLC now owns 451,448 shares of the basic materials company’s stock valued at $16,166,000 after buying an additional 119,376 shares during the last quarter. ING Groep NV purchased a new stake in Steel Dynamics during the second quarter valued at $1,053,000. Finally, Russell Investments Group Ltd. increased its stake in Steel Dynamics by 15.0% in the second quarter. Russell Investments Group Ltd. now owns 208,346 shares of the basic materials company’s stock valued at $7,465,000 after buying an additional 27,247 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.
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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