Steel Dynamics FY2024 EPS Forecast Lowered by Zacks Research

SEATTLE (Scrap Monster):  Steel Dynamics, Inc. - Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of Steel Dynamics in a report released on Wednesday, November 27th. Zacks Research analyst R. Department now anticipates that the basic materials company will post earnings per share of $9.99 for the year, down from their prior estimate of $10.00. The consensus estimate for Steel Dynamics' current full-year earnings is $10.10 per share. Zacks Research also issued estimates for Steel Dynamics' Q4 2024 earnings at $1.55 EPS, Q1 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.18 EPS, FY2025 earnings at $9.18 EPS, Q1 2026 earnings at $3.09 EPS and FY2026 earnings at $10.46 EPS.

A number of other analysts have also recently issued reports on STLD. Bank of America raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and increased their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Morgan Stanley lowered their price target on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $144.29.

Courtesy: www.marketbeat.com