Steel Dynamics (STLD) Receives a Buy from BMO Capital
In a report released yesterday, Katja Jancic from BMO Capital maintained a Buy rating on Steel Dynamics, with a price target of $296.00. The company’s shares closed yesterday at $270.13.
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Jancic covers the Basic Materials sector, focusing on stocks such as Nucor, Steel Dynamics, and Alcoa. According to TipRanks, Jancic has an average return of 35.1% and a 74.07% success rate on recommended stocks.
Steel Dynamics has an analyst consensus of Moderate Buy, with a price target consensus of $256.11, which is a -5.19% downside from current levels. In a report released today, Wells Fargo also assigned a Buy rating to the stock with a $291.00 price target.
Based on Steel Dynamics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.2 billion and a net profit of $403.44 million. In comparison, last year the company earned a revenue of $4.37 billion and had a net profit of $217.15 million
Based on the recent corporate insider activity of 120 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STLD in relation to earlier this year. Earlier this month, James Stanley Anderson, the SVP of STLD sold 10,000.00 shares for a total of $2,687,030.02.
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- Steel Dynamics price target lowered to $280 from $285 at BofA
- Steel Dynamics price target lowered to $291 from $293 at Wells Fargo
- Closing Bell Movers: Rumble rallies on expansion into AI business
- Steel Dynamics sees Q2 EPS $3.51-$3.55, consensus $4.16
- Steel Dynamics price target raised to $285 from $250 at BofA
