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J.P. Morgan Remains a Hold on Steel Dynamics (STLD)

Tipranks - Tipranks - Sat Oct 10, 9:18AM CDT

In a report released today, Bill Peterson from J.P. Morgan maintained a Hold rating on Steel Dynamics, with a price target of $260.00.

According to TipRanks, Peterson is a 4-star analyst with an average return of 6.7% and a 47.97% success rate. Peterson covers the Basic Materials sector, focusing on stocks such as Cleveland-Cliffs, Steel Dynamics, and Nucor.

In addition to J.P. Morgan, Steel Dynamics also received a Hold from Morgan Stanley’s Carlos De Alba in a report issued on September 25. However, on October 5, Goldman Sachs maintained a Buy rating on Steel Dynamics (NASDAQ: STLD).

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Based on Steel Dynamics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.09 billion and a net profit of $534.09 million. In comparison, last year the company earned a revenue of $4.57 billion and had a net profit of $298.73 million

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