Steel Dynamics (STLD) Given a $49.00 Price Target by KeyCorp Analysts
KeyCorp set a $49.00 target price on Steel Dynamics (NASDAQ:STLD) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the basic materials company’s stock. KeyCorp also issued estimates for Steel Dynamics’ Q1 2018 earnings at $1.15 EPS.
A number of other research analysts have also recently issued reports on the company. Jefferies Group reissued a buy rating and set a $53.00 price objective on shares of Steel Dynamics in a report on Thursday. Zacks Investment Research raised Steel Dynamics from a sell rating to a hold rating in a report on Wednesday. Bank of America set a $51.00 price objective on Steel Dynamics and gave the company a buy rating in a report on Monday, January 8th. BidaskClub raised Steel Dynamics from a buy rating to a strong-buy rating in a report on Saturday, January 6th. Finally, Longbow Research raised Steel Dynamics from a neutral rating to a buy rating in a report on Wednesday, December 20th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $43.71.
Steel Dynamics (NASDAQ:STLD) opened at $47.01 on Wednesday. The company has a market capitalization of $11,139.11, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.16 and a beta of 1.40. Steel Dynamics has a 12-month low of $32.15 and a 12-month high of $47.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The business’s revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. analysts predict that Steel Dynamics will post 2.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st were paid a $0.155 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.32%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.
Several large investors have recently made changes to their positions in STLD. IHT Wealth Management LLC increased its position in Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 3 shares during the period. Toronto Dominion Bank acquired a new stake in Steel Dynamics in the second quarter worth about $107,000. Steward Partners Investment Advisory LLC acquired a new stake in Steel Dynamics in the third quarter worth about $112,000. Hefty Wealth Partners increased its position in Steel Dynamics by 76.1% in the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in Steel Dynamics by 80.8% in the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 1,589 shares during the period. Institutional investors own 83.38% of the company’s stock.
About Steel Dynamics
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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