Boosts Steel Dynamics, Inc. (STLD) Price Target to $44.00
Steel Dynamics, Inc.is a steel producing and a metal recycling company. (NASDAQ:STLD) has risen 32.59% since September 8, 2016 and is uptrending. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Insiders own 4.10% of the company's stock. Boston Partners raised its position in Steel Dynamics by 2.2% in the third quarter.
When narrowing in on the Value Composite score for Deere & Company (NYSE:DE), we notice that the stock has a rank of 45. A ratio above one indicates an increase in share price over the period. The company's steel production utilization rate was 95 percent in the first quarter 2017, contrast to 81 percent in the sequential fourth quarter and contrast to the domestic industry utilization rate of 75 percent. (STLD) has the trading volume of 3.15 Million shares with the average trading volume of 2650 shares. Ancora Advisors LLC acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $146,000. The stock touched its high share price of $39.84 on 12/08/16 and the stock also touched its Lowest price in the last 52-weeks of trading on 05/19/16 as $22.18.
The Company has 242.38 million shares outstanding and 231.99 million shares were floated in market.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Steel Dynamics's revenue for the quarter was up 36.0% on a year-over-year basis. It opened the session with a $32.99 price tag, later ranging from $32.58 to $33.49, the range at which the stock has traded at throughout the day. 3,145,650 shares of the company's stock traded hands. The firm has a market capitalization of $7.92 billion, a P/E ratio of 20.96 and a beta of 1.35.
Steel Dynamics, Inc. has 50 day moving average of $34.89 and its 200 day moving average of $33.53.
For this year, Steel Dynamics, Inc. After $0.23 actual EPS reported by National Research Corp for the previous quarter, Wall Street now forecasts -4.35% negative EPS growth. Steel Dynamics had a net margin of 4.91% and a return on equity of 17.30%. During the same quarter in the prior year, the business posted $0.09 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 10th. Stockholders of record on Friday, March 31st were given a dividend of $0.155 per share.
Since November 1, 2016, it had 0 buys, and 2 sales for $5.05 million activity. This is a boost from Steel Dynamics's previous quarterly dividend of $0.14. The firm has "Buy" rating by Nomura given on Wednesday, March 9. A ratio under one signals that the price has lowered over that same time frame.
01/12/2017 - Steel Dynamics, Inc. was downgraded to " by analysts at Credit Suisse. If you are accessing this news story on another publication, it was stolen and reposted in violation of USA and global copyright and trademark laws. The correct version of this article can be accessed at https://baseballnewssource.com/markets/jpmorgan-chase-co-reiterates-overweight-rating-for-steel-dynamics-inc-stld-updated-updated/521751.html.
STLD has been the topic of several other reports. (NASDAQ:STLD) to report $0.62 EPS on April, 19.They anticipate $0.36 EPS change or 138.46% from last quarter's $0.26 EPS. (STLD). The consensus rating is 2.1, suggesting the market has given up on the stock.
Sell-side analyst recommendations point to a short term price target of $41.07 on the shares of Steel Dynamics, Inc. Finally, Berenberg Bank reaffirmed a buy rating and issued a $44.00 price target on shares of Steel Dynamics in a research note on Thursday, March 16th. Jefferies maintained it with "Buy" rating and $25 target in Thursday, September 17 report.
The company's average steel product price increased more than consumed raw material scrap costs, resulting in steel metal spread expansion. The shares were sold at an average price of $35.64, for a total transaction of $5,000,113.80.
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