Published On: Mon, Sep 19th, 2016

Steel Dynamics Inc. to Post Q4 2016 Earnings of $0.41 Per Share, Jefferies Group Forecasts (STLD)

Steel Dynamics Inc. (NASDAQ:STLD) – Jefferies Group reduced their Q4 2016 earnings estimates for shares of Steel Dynamics in a research report issued to clients and investors on Thursday. Jefferies Group analyst S. Rosenfeld now forecasts that the firm will post earnings per share of $0.41 for the quarter, down from their previous forecast of $0.60. Jefferies Group currently has a “Buy” rating and a $28.00 target price on the stock. Jefferies Group also issued estimates for Steel Dynamics’ Q1 2017 earnings at $0.38 EPS, Q2 2017 earnings at $0.42 EPS, Q3 2017 earnings at $0.32 EPS and Q4 2017 earnings at $0.27 EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Tuesday, June 28th. Berenberg Bank reissued a “buy” rating and issued a $35.00 price objective on shares of Steel Dynamics in a research note on Tuesday, August 2nd. Cowen and Company set a $33.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research note on Monday, August 1st. Rosenblatt Securities started coverage on Steel Dynamics in a research note on Wednesday, June 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Morgan Stanley reissued a “buy” rating and issued a $27.00 price objective on shares of Steel Dynamics in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Steel Dynamics presently has a consensus rating of “Buy” and a consensus price target of $27.86.
Shares of Steel Dynamics (NASDAQ:STLD) opened at 23.49 on Monday. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 479.39 and a beta of 1.70. Steel Dynamics has a 12 month low of $15.32 and a 12 month high of $28.01. The firm has a 50-day moving average price of $25.42 and a 200 day moving average price of $24.40.

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Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.22 earnings per share.
In related news, Director Keith E. Busse sold 13,155 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $27.00, for a total value of $355,185.00. Following the sale, the director now owns 1,006,894 shares of the company’s stock, valued at approximately $27,186,138. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jurgen Dr Kolb sold 1,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $26.50, for a total value of $26,500.00. Following the completion of the sale, the director now directly owns 65,014 shares in the company, valued at approximately $1,722,871. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $1,923,000. KAMES CAPITAL plc bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $14,849,000. Mason Street Advisors LLC bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $2,721,000. Royal Bank of Canada raised its stake in shares of Steel Dynamics by 12.0% in the second quarter. Royal Bank of Canada now owns 1,589,888 shares of the company’s stock valued at $38,952,000 after buying an additional 169,904 shares in the last quarter. Finally, Cohen & Steers Inc. bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $6,725,000. 82.54% of the stock is currently owned by institutional investors and hedge funds.
Steel Dynamics Company Profile

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