Jefferies Group reaffirmed their buy rating on shares of Steel Dynamics (NASDAQ:STLD) in a report published on Thursday morning. Jefferies Group currently has a $53.00 target price on the basic materials company’s stock. Jefferies Group also issued estimates for Steel Dynamics’ Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $2.61 EPS, FY2018 earnings at $3.63 EPS and FY2019 earnings at $2.97 EPS.
A number of other research firms have also recently issued reports on STLD. BidaskClub raised shares of Steel Dynamics from a buy rating to a strong-buy rating in a research report on Saturday, January 6th. Bank of America set a $51.00 price objective on shares of Steel Dynamics and gave the stock a buy rating in a research report on Monday, January 8th. Zacks Investment Research raised shares of Steel Dynamics from a sell rating to a hold rating in a research report on Wednesday, January 10th. Longbow Research raised shares of Steel Dynamics from a neutral rating to a buy rating in a research report on Wednesday, December 20th. Finally, Cowen set a $43.00 price objective on shares of Steel Dynamics and gave the stock a buy rating in a research report on Monday, December 18th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $43.71.
Steel Dynamics (STLD) traded down $0.11 during mid-day trading on Thursday, hitting $47.01. 1,887,200 shares of the stock were exchanged, compared to its average volume of 2,570,000. The company has a market cap of $11,140.00, a PE ratio of 21.66, a PEG ratio of 1.12 and a beta of 1.40. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. Steel Dynamics has a one year low of $32.15 and a one year high of $47.39.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.66. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. research analysts forecast that Steel Dynamics will post 2.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Sunday, December 31st were given a $0.155 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.32%. Steel Dynamics’s payout ratio is 28.57%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Steel Dynamics by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock valued at $873,945,000 after acquiring an additional 611,096 shares in the last quarter. BlackRock Inc. increased its stake in Steel Dynamics by 9.2% in the 2nd quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock valued at $785,405,000 after buying an additional 1,840,803 shares during the last quarter. Boston Partners increased its stake in Steel Dynamics by 3.6% in the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock valued at $585,208,000 after buying an additional 593,498 shares during the last quarter. State Street Corp increased its stake in Steel Dynamics by 17.9% in the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock valued at $317,162,000 after buying an additional 1,346,487 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after buying an additional 539,480 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.
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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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