Brokers Set Expectations for Steel Dynamics, Inc.’s Q1 2018 Earnings (STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Research analysts at KeyCorp dropped their Q1 2018 earnings estimates for shares of Steel Dynamics in a research report issued on Sunday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.95 per share for the quarter, down from their prior estimate of $1.15. KeyCorp currently has a “Buy” rating and a $49.00 target price on the stock.

A number of other brokerages have also issued reports on STLD. Credit Suisse Group lifted their price target on Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. BidaskClub downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, January 24th. Cowen reiterated an “outperform” rating and set a $60.00 price objective (up previously from $53.00) on shares of Steel Dynamics in a research report on Wednesday, January 24th. Finally, BMO Capital Markets lifted their price objective on Steel Dynamics to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.64.

Shares of Steel Dynamics (NASDAQ STLD) opened at $46.79 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29. The stock has a market capitalization of $11,090.00, a P/E ratio of 13.88, a PEG ratio of 0.96 and a beta of 1.34. Steel Dynamics has a 12 month low of $32.15 and a 12 month high of $48.28.

A number of large investors have recently bought and sold shares of the business. LPL Financial LLC raised its position in Steel Dynamics by 94.3% in the fourth quarter. LPL Financial LLC now owns 106,626 shares of the basic materials company’s stock valued at $4,599,000 after purchasing an additional 51,750 shares during the period. Millennium Management LLC raised its position in Steel Dynamics by 163.0% in the fourth quarter. Millennium Management LLC now owns 1,935,141 shares of the basic materials company’s stock valued at $83,463,000 after purchasing an additional 1,199,224 shares during the period. Paloma Partners Management Co raised its position in Steel Dynamics by 1,659.1% in the fourth quarter. Paloma Partners Management Co now owns 80,138 shares of the basic materials company’s stock valued at $3,455,000 after purchasing an additional 85,278 shares during the period. Raymond James & Associates raised its position in Steel Dynamics by 7.8% in the fourth quarter. Raymond James & Associates now owns 608,362 shares of the basic materials company’s stock valued at $26,239,000 after purchasing an additional 43,779 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in Steel Dynamics by 458.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 298,520 shares of the basic materials company’s stock valued at $12,875,000 after purchasing an additional 245,100 shares during the period. Institutional investors own 83.47% of the company’s stock.

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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.

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