Steel Dynamics (STLD) Receives Buy Rating from Jefferies Group
Jefferies Group reiterated their buy rating on shares of Steel Dynamics (NASDAQ:STLD) in a research note 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.
Several other equities analysts have also weighed in on the stock. Morgan Stanley set a $36.00 price objective on shares of Steel Dynamics and gave the company a hold rating in a research report on Tuesday, October 24th. KeyCorp raised shares of Steel Dynamics from a sector weight rating to an overweight rating and set a $44.00 price objective on the stock in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Steel Dynamics from a hold rating to a sell rating in a research report on Tuesday, December 26th. Citigroup raised their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the company a buy rating in a research report on Friday, October 20th. Finally, BidaskClub raised shares of Steel Dynamics from a hold rating to a buy rating in a research report on Tuesday, December 12th. 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. The stock has an average rating of Buy and an average price target of $43.71.
Shares of Steel Dynamics (NASDAQ STLD) traded down $0.11 on Thursday, reaching $47.01. 1,887,200 shares of the company traded hands, compared to its average volume of 2,570,000. The company has a market capitalization of $11,140.00, a price-to-earnings ratio of 21.66, a PEG ratio of 1.12 and a beta of 1.40. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35. Steel Dynamics has a 52-week low of $32.15 and a 52-week high of $47.39.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. research analysts expect that Steel Dynamics will post 2.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, December 28th. Steel Dynamics’s dividend payout ratio is 28.57%.
Large investors have recently added to or reduced their stakes in the company. IHT Wealth Management LLC raised its position in shares of Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 3 shares during the period. Toronto Dominion Bank acquired a new stake in shares of Steel Dynamics in the second quarter worth $107,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Steel Dynamics in the third quarter worth $112,000. Hefty Wealth Partners grew its stake in shares of 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 acquiring an additional 1,477 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of 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 acquiring an additional 1,589 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors.
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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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