Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned an average recommendation of “Buy” from the eighteen analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $41.58.
Several equities analysts have commented on STLD shares. Macquarie started coverage on shares of Steel Dynamics in a research report on Wednesday, September 6th. They set a “neutral” rating and a $36.00 target price on the stock. Bank of America Corporation reissued a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Longbow Research reissued a “buy” rating and set a $40.00 target price on shares of Steel Dynamics in a research report on Thursday, July 27th. BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $43.00 target price on shares of Steel Dynamics in a research report on Thursday, August 31st.
A number of hedge funds have recently modified their holdings of STLD. BlackRock Inc. raised its holdings in Steel Dynamics by 9.2% during the 2nd quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock valued at $785,405,000 after acquiring an additional 1,840,803 shares during the period. Boston Partners raised its holdings in Steel Dynamics by 11.9% during the 2nd quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock valued at $586,703,000 after acquiring an additional 1,742,242 shares during the period. State Street Corp raised its holdings in Steel Dynamics by 17.9% during 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 acquiring an additional 1,346,487 shares during the period. Prudential Financial Inc. raised its holdings in Steel Dynamics by 21.7% during the 2nd quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock valued at $146,088,000 after acquiring an additional 727,722 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Steel Dynamics during the 2nd quarter valued at $24,070,000. 85.80% of the stock is currently owned by institutional investors and hedge funds.
Steel Dynamics (NASDAQ:STLD) opened at $36.85 on Monday. The stock has a market capitalization of $8,731.67, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.15 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 12 month low of $32.15 and a 12 month high of $40.17.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. equities research analysts expect that Steel Dynamics will post 2.67 earnings per share for the current fiscal year.
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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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