Steel Dynamics, Inc. (STLD) to Post FY2017 Earnings of $2.61 Per Share, Jefferies Group Forecasts

Steel Dynamics, Inc. (NASDAQ:STLD) – Jefferies Group reduced their FY2017 earnings per share (EPS) estimates for Steel Dynamics in a report released on Tuesday, according to Zacks Investment Research. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $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 analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Friday. Credit Suisse Group boosted their price target 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 raised 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 target on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, December 18th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $46.64.

Shares of Steel Dynamics (STLD) traded down $1.41 during mid-day trading on Wednesday, hitting $44.15. 2,210,000 shares of the stock traded hands, compared to its average volume of 2,350,000. Steel Dynamics has a one year low of $32.15 and a one year high of $48.28. The firm has a market cap of $10,460.00, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a quick ratio of 2.29, a current ratio of 4.04 and a debt-to-equity ratio of 0.74.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board lifted its position in Steel Dynamics by 8.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 544,861 shares of the basic materials company’s stock valued at $18,781,000 after acquiring an additional 41,400 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its position in Steel Dynamics by 21.3% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 15,728 shares of the basic materials company’s stock worth $542,000 after buying an additional 2,758 shares in the last quarter. APG Asset Management N.V. bought a new stake in Steel Dynamics during the 3rd quarter worth about $9,800,000. Prudential Financial Inc. lifted its position in Steel Dynamics by 13.2% during the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after buying an additional 539,480 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. lifted its position in Steel Dynamics by 5.0% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock worth $26,870,000 after buying an additional 35,777 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Sunday, December 31st were given a $0.155 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.40%. Steel Dynamics’s dividend payout ratio is currently 18.40%.

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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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