Steel Dynamics (NASDAQ:STLD)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group in a research report issued on Thursday. They currently have a $53.00 price target on the basic materials company’s stock. Jefferies Group’s target price points to a potential upside of 12.74% from the company’s current price. 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.

STLD has been the topic of a number of other research reports. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Cowen set a $43.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, December 18th. Finally, Bank of America set a $51.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $43.71.

Shares of Steel Dynamics (NASDAQ:STLD) traded down $0.11 on Thursday, hitting $47.01. 1,887,300 shares of the stock traded hands, compared to its average volume of 2,428,855. The firm has a market capitalization of $11,140.00, a PE ratio of 21.66, a PEG ratio of 1.12 and a beta of 1.40. Steel Dynamics has a 1-year low of $32.15 and a 1-year high of $47.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. equities research analysts forecast that Steel Dynamics will post 2.64 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Steel Dynamics by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock valued at $873,945,000 after purchasing an additional 611,096 shares during the last quarter. BlackRock Inc. raised its stake in Steel Dynamics by 9.2% in the 2nd quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock valued at $785,405,000 after purchasing an additional 1,840,803 shares during the last quarter. Boston Partners raised its stake in Steel Dynamics by 3.6% in the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock valued at $585,208,000 after purchasing an additional 593,498 shares during the last quarter. State Street Corp raised its stake in Steel Dynamics by 17.9% in the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock valued at $317,162,000 after purchasing an additional 1,346,487 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after purchasing an additional 539,480 shares during the last quarter. 83.43% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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