Steel Dynamics (NASDAQ:STLD) Getting Somewhat Favorable Press Coverage, Study Shows
Headlines about Steel Dynamics (NASDAQ:STLD) have trended somewhat positive recently, according to Accern Sentiment Analysis. Accern rates the sentiment of press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Steel Dynamics earned a media sentiment score of 0.24 on Accern’s scale. Accern also assigned media coverage about the basic materials company an impact score of 46.078309173324 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the headlines that may have effected Accern’s scoring:
- Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Bowling Portfolio Management LLC (overnewsmagazine.com)
- Steel Dynamics, Inc. (STLD) Stock Rating Reaffirmed by Longbow Research (campdesrecrues.com)
- Putting Steel Dynamics Inc (STLD) Under the Microscope: Technicals Watch – Sparta Review (spartareview.com)
- Neither Hold nor sell rating on stock: Steel Dynamics, Inc. (STLD) – Street Observer (press release) (streetobserver.com)
- Steel Dynamics, Inc. (STLD): How Do the Books Stack Up? – StockNewsGazette (stocknewsgazette.com)
Shares of Steel Dynamics (NASDAQ:STLD) traded down 2.62% during trading on Friday, reaching $34.54. The company’s stock had a trading volume of 2,276,902 shares. The firm has a market cap of $8.29 billion, a PE ratio of 15.87 and a beta of 1.23. The company’s 50 day moving average price is $35.88 and its 200 day moving average price is $35.22. Steel Dynamics has a 12 month low of $22.79 and a 12 month high of $40.17.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, equities analysts predict that Steel Dynamics will post $2.83 earnings per share for the current year.
STLD has been the subject of a number of research reports. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, May 24th. Jefferies Group LLC restated a “buy” rating and issued a $45.00 target price on shares of Steel Dynamics in a research note on Monday, June 26th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, April 21st. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Bank of America Corporation raised their target price on Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Steel Dynamics has an average rating of “Buy” and a consensus target price of $39.79.
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In other news, Director Keith E. Busse sold 4,965 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. Corporate insiders own 4.20% 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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