Steel Dynamics Upgraded to Buy at Longbow Research (STLD)
STLD has been the subject of a number of other recent research reports. Analysts at KeyBanc upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note to investors on Monday, January 14th. Finally, analysts at Bank of America raised their price target on shares of Steel Dynamics to $14.00 in a research note to investors on Tuesday, December 18th.
Nine equities research analysts have rated the stock with a buy rating, one has issued an overweight rating, nine have given a hold rating, and one has given an underweight rating to the stock. Steel Dynamics presently has an average rating of “overweight” and a consensus target price of $16.90.
Steel Dynamics traded up 0.10% on Monday, hitting $14.865. Steel Dynamics has a 52-week low of $10.11 and a 52-week high of $16.16. The stock’s 50-day moving average is currently $15.29. The company has a market cap of $3.261 billion and a price-to-earnings ratio of 20.34.
Steel Dynamics last issued its quarterly earnings data on Monday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.13. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Analysts expect that Steel Dynamics will post $1.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, April 12th. Stockholders of record on Sunday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.96%.
Steel Dynamics, Inc. is a steel producer and metals recycler in the United States. The primary sources of the Company’s revenues are from the manufacture and sale of steel products; processing and sale of recycled ferrous and nonferrous metals, and to a lesser degree, fabrication and sale of steel joist and decking products.
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