Q3 2017 Earnings Forecast for Steel Dynamics, Inc. Issued By KeyCorp (STLD)
Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at KeyCorp raised their Q3 2017 earnings per share estimates for Steel Dynamics in a report issued on Wednesday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.61 per share for the quarter, up from their prior estimate of $0.59. KeyCorp also issued estimates for Steel Dynamics’ FY2018 earnings at $2.37 EPS.
Several other analysts also recently weighed in on STLD. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, April 21st. Macquarie raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $38.00 to $44.00 in a research report on Monday, April 24th. Cowen and Company boosted their target price on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. BMO Capital Markets reissued a “buy” rating and set a $48.00 target price on shares of Steel Dynamics in a research report on Monday, April 24th. Finally, Barclays PLC reissued a “buy” rating and set a $43.00 target price on shares of Steel Dynamics in a research report on Friday, May 5th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.59.
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Steel Dynamics (NASDAQ STLD) opened at 34.55 on Friday. The company’s 50-day moving average is $36.06 and its 200-day moving average is $35.22. Steel Dynamics has a 12 month low of $22.79 and a 12 month high of $40.17. The company has a market cap of $8.29 billion, a P/E ratio of 15.87 and a beta of 1.23.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 earnings per share.
Hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC boosted its stake 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 buying an additional 3 shares during the last quarter. Advantage Investment Management LLC boosted its position in Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock valued at $116,000 after buying an additional 950 shares in the last quarter. Washington Trust Bank boosted its position in Steel Dynamics by 48.8% in the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock valued at $122,000 after buying an additional 1,113 shares in the last quarter. James Investment Research Inc. purchased a new position in Steel Dynamics during the first quarter valued at about $145,000. Finally, Advisory Services Network LLC purchased a new position in Steel Dynamics during the first quarter valued at about $150,000. Institutional investors and hedge funds own 85.59% of the company’s stock.
In other Steel Dynamics news, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares in the company, valued at approximately $1,018,902.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the sale, the director now owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
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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