Steel Dynamics (STLD) is Reiterated by Cowen to Outperform, Raises Price Target to $ 30

Steel Dynamics (STLD) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 30 from a previous price target of $25 . Cowen advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on Steel Dynamics. Company shares were Reiterated by Credit Suisse on Mar 23, 2016 to “Outperform”, Firm has raised the Price Target to $ 27 from a previous price target of $25 .Company shares were Reiterated by Deutsche Bank on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $23 .Steel Dynamics was Downgraded by Rosenblatt to ” Neutral” on Mar 14, 2016.

On the company’s financial health, Steel Dynamics reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.24. The company had revenue of $1741.30 million for the quarter, compared to analysts expectations of $1724.06 million. The company’s revenue was down -15.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.17 EPS.

Steel Dynamics opened for trading at $24.73 and hit $25 on the upside on Wednesday, eventually ending the session at $24.64, with a gain of 0.65% or 0.16 points. The heightened volatility saw the trading volume jump to 58,55,265 shares. Company has a market cap of $5,992 M.

In a different news, on Mar 22, 2016, Keith E Busse (director) sold 91,873 shares at $21.94 per share price. According to the SEC, on Aug 28, 2015, Richard P Jr Teets (Executive Vice President) purchased 6,000 shares at $18.75 per share price. On Aug 20, 2015, John C Bates (director) sold 66,989 shares at $21.22 per share price, according to the Form-4 filing with the securities and exchange commission.

Steel Dynamics Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations metals recycling and ferrous resources operations and steel fabrication operations. The Company offers hot roll cold roll galvanized galvanneal Galvalume Galfan and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products rounds angles flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment its products include an array of both ferrous and non-ferrous scrap processing scrap management transportation and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

Steel Dynamics

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