KeyCorp Comments on Steel Dynamics, Inc.’s FY2018 Earnings (STLD)
Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at KeyCorp dropped their FY2018 EPS estimates for shares of Steel Dynamics in a research report issued on Sunday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $3.41 per share for the year, down from their prior estimate of $3.50. KeyCorp has a “Buy” rating and a $49.00 price target on the stock.
A number of other research analysts have also weighed in on the stock. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Cowen set a $60.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, February 5th. ValuEngine raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Credit Suisse Group raised their target price on shares of Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, BMO Capital Markets raised their target price on shares of Steel Dynamics to $55.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $46.64.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank purchased a new stake in shares of Steel Dynamics during the second quarter valued at $107,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Steel Dynamics during the third quarter valued at $112,000. Hefty Wealth Partners boosted its stake in shares of Steel Dynamics by 76.1% during the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 1,477 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Steel Dynamics by 80.8% during the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 1,589 shares during the period. Finally, Cerebellum GP LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at $132,000. 83.47% of the stock is owned by institutional investors.
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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.
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