Jefferies Group Analysts Decrease Earnings Estimates for Steel Dynamics, Inc. (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at Jefferies Group lowered their FY2017 EPS estimates for shares of Steel Dynamics in a research note issued on Tuesday, according to Zacks Investment Research. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will earn $2.61 per share for the year, down from their previous forecast of $2.72. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Steel Dynamics’ Q4 2017 earnings at $0.50 EPS, FY2018 earnings at $3.63 EPS and FY2019 earnings at $2.97 EPS.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Friday. Credit Suisse Group raised their price objective 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. BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Finally, Cowen set a $43.00 price objective on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, December 18th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.64.

Steel Dynamics (NASDAQ:STLD) traded down $1.41 during trading on Wednesday, reaching $44.15. 2,180,400 shares of the company’s stock were exchanged, compared to its average volume of 2,350,000. The firm has a market cap of $10,140.00, a price-to-earnings ratio of 13.10, a PEG ratio of 0.98 and a beta of 1.34. Steel Dynamics has a 12 month low of $32.15 and a 12 month high of $48.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.29 and a current ratio of 4.04.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado grew its position in shares of Steel Dynamics by 2.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 49,185 shares of the basic materials company’s stock valued at $2,121,000 after buying an additional 1,306 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Steel Dynamics by 103.9% in the 4th quarter. CIBC Asset Management Inc now owns 44,131 shares of the basic materials company’s stock valued at $1,903,000 after buying an additional 22,490 shares during the last quarter. US Bancorp DE grew its position in shares of Steel Dynamics by 5.3% in the 4th quarter. US Bancorp DE now owns 54,463 shares of the basic materials company’s stock valued at $2,349,000 after buying an additional 2,737 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new position in shares of Steel Dynamics in the 4th quarter valued at $4,244,000. Finally, Victory Capital Management Inc. grew its position in shares of Steel Dynamics by 12.6% in the 4th quarter. Victory Capital Management Inc. now owns 33,626 shares of the basic materials company’s stock valued at $1,450,000 after buying an additional 3,764 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors 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 1.40%. The ex-dividend date of this dividend was Thursday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is 18.40%.

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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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