Jefferies Group Weighs in on Steel Dynamics, Inc.’s Q4 2017 Earnings (NASDAQ:STLD)
Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at Jefferies Group boosted their Q4 2017 EPS estimates for shares of Steel Dynamics in a research note issued to investors on Thursday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings of $0.69 per share for the quarter, up from their prior forecast of $0.68. Jefferies Group has a “Buy” rating and a $43.00 price objective on the stock.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share. COPYRIGHT VIOLATION WARNING: “Jefferies Group Weighs in on Steel Dynamics, Inc.’s Q4 2017 Earnings (NASDAQ:STLD)” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/07/24/jefferies-group-weighs-in-on-steel-dynamics-inc-s-q4-2017-earnings-nasdaqstld.html.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, April 21st. Longbow Research raised Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Steel Dynamics in a research note on Monday, April 24th. Barclays PLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Steel Dynamics in a research note on Monday, May 15th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Steel Dynamics in a research note on Monday, June 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $39.78.
Shares of Steel Dynamics (NASDAQ STLD) opened at 37.51 on Monday. The stock has a 50 day moving average price of $35.13 and a 200-day moving average price of $35.27. Steel Dynamics has a 52 week low of $22.79 and a 52 week high of $40.17. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 17.23 and a beta of 1.25.
Large investors have recently bought and sold shares of the company. Boston Advisors LLC boosted its stake in Steel Dynamics by 583.5% in the first quarter. Boston Advisors LLC now owns 332,072 shares of the basic materials company’s stock valued at $11,543,000 after buying an additional 283,485 shares during the period. Affinity Wealth Management acquired a new stake in Steel Dynamics during the first quarter valued at about $265,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Steel Dynamics during the first quarter valued at about $798,000. Louisiana State Employees Retirement System boosted its stake in Steel Dynamics by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 61,200 shares of the basic materials company’s stock valued at $2,127,000 after buying an additional 900 shares during the period. Finally, Americafirst Capital Management LLC acquired a new stake in Steel Dynamics during the first quarter valued at about $337,000. Institutional investors and hedge funds own 83.63% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 30th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Wednesday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.
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.
Receive News & Ratings for Steel Dynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.