Equities analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to announce $2.57 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Steel Dynamics’ earnings. The lowest sales estimate is $2.51 billion and the highest is $2.66 billion. Steel Dynamics posted sales of $2.37 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.4%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, April 18th.
On average, analysts expect that Steel Dynamics will report full-year sales of $2.57 billion for the current financial year, with estimates ranging from $9.77 billion to $11.03 billion. For the next financial year, analysts expect that the firm will report sales of $10.61 billion per share, with estimates ranging from $9.76 billion to $11.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Steel Dynamics.
Several analysts have recently commented on the company. Zacks Investment Research cut Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. KeyCorp set a $49.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Wednesday, January 10th. BidaskClub raised Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. Bank of America set a $51.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Monday, January 8th. Finally, Cowen set a $60.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Steel Dynamics has a consensus rating of “Buy” and a consensus price target of $46.64.
Shares of Steel Dynamics (STLD) traded up $2.26 during trading on Thursday, hitting $49.40. The stock had a trading volume of 6,320,000 shares, compared to its average volume of 2,580,000. The firm has a market capitalization of $11,710.00, a PE ratio of 11.96, a PEG ratio of 1.07 and a beta of 1.34. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. Steel Dynamics has a 1-year low of $32.15 and a 1-year high of $49.67.
Several large investors have recently made changes to their positions in the business. Boston Partners lifted its position in shares of Steel Dynamics by 3.6% in the third quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after buying an additional 593,498 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Steel Dynamics by 348.9% in the fourth quarter. Lazard Asset Management LLC now owns 6,556,430 shares of the basic materials company’s stock worth $282,777,000 after buying an additional 5,096,015 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Steel Dynamics by 13.2% in the third 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Steel Dynamics by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,212,248 shares of the basic materials company’s stock worth $145,199,000 after purchasing an additional 247,077 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Steel Dynamics by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 3,278,380 shares of the basic materials company’s stock worth $141,398,000 after purchasing an additional 18,050 shares during the period. 83.47% of the stock is owned by institutional investors.
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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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