Steel Dynamics (NASDAQ:STLD) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, May 9th.
A number of other analysts have also weighed in on STLD. BidaskClub lowered shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Citigroup upped their target price on shares of Steel Dynamics from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Jefferies Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Wednesday, January 24th. Finally, Deutsche Bank upped their target price on shares of Steel Dynamics from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, March 29th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Steel Dynamics currently has a consensus rating of “Buy” and an average price target of $50.50.
Shares of STLD stock opened at $51.38 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.38 and a current ratio of 4.24. The company has a market cap of $12.02 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 0.93 and a beta of 1.31. Steel Dynamics has a 12 month low of $49.48 and a 12 month high of $50.87.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, April 18th. The basic materials company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.05. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. Steel Dynamics had a net margin of 8.59% and a return on equity of 21.60%. Steel Dynamics’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. research analysts forecast that Steel Dynamics will post 4.55 EPS for the current year.
Large investors have recently modified their holdings of the company. Cerebellum GP LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at $132,000. Amica Retiree Medical Trust bought a new position in shares of Steel Dynamics during the 4th quarter valued at $143,000. CoreCommodity Management LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at $146,000. Smithfield Trust Co. grew its holdings in shares of Steel Dynamics by 2,523.1% during the 1st quarter. Smithfield Trust Co. now owns 3,410 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 3,280 shares during the last quarter. Finally, National Pension Service bought a new position in shares of Steel Dynamics during the 4th quarter valued at $150,000. 85.26% of the stock is currently owned by hedge funds and other institutional investors.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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