Steel Dynamics (STLD) reported quarterly earnings results on Wednesday, Apr-20-2016. The company said it had a profit of $0.26 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.24. The company posted revenue of $1741.30 million in the period, 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.
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.
Steel Dynamics closed down -0.11 points or -0.45% at $24.09 with 39,82,012 shares getting traded on Monday. Post opening the session at $24.05, the shares hit an intraday low of $24 and an intraday high of $24.39 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.