KeyCorp Weighs in on Steel Dynamics, Inc.’s FY2018 Earnings (STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities researchers at KeyCorp reduced their FY2018 EPS estimates for shares of Steel Dynamics in a research report issued on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $3.41 per share for the year, down from their previous forecast of $3.50. KeyCorp currently has a “Buy” rating and a $49.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on STLD. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. Morgan Stanley set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a research note on Tuesday, October 24th. Cowen reaffirmed an “outperform” rating and issued a $60.00 price objective (up previously from $53.00) on shares of Steel Dynamics in a research note on Wednesday, January 24th. Citigroup upped their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Longbow Research raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.64.

Steel Dynamics (NASDAQ STLD) traded up $1.93 during trading hours on Wednesday, reaching $46.79. 2,773,200 shares of the company’s stock were exchanged, compared to its average volume of 2,443,433. 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 firm has a market capitalization of $10,920.00, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. Steel Dynamics has a 1-year low of $32.15 and a 1-year high of $48.28.

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in Steel Dynamics in the 2nd quarter worth $6,250,000. The Manufacturers Life Insurance Company raised its holdings in Steel Dynamics by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 356,951 shares of the basic materials company’s stock worth $12,784,000 after purchasing an additional 6,861 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Steel Dynamics by 13.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,371 shares of the basic materials company’s stock worth $622,000 after purchasing an additional 2,000 shares in the last quarter. Koch Industries Inc. bought a new position in Steel Dynamics in the 2nd quarter worth $217,000. Finally, Advisory Services Network LLC raised its holdings in Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 101 shares in the last quarter. 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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