Steel Dynamics Reports First Quarter 2016 Results
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Jefferies Raises Price Target Following Steel Dynamics' (STLD) Strong 1Q
April 22, 2016 9:17 AM EDTJefferies reiterated a Buy rating on Steel Dynamics (NASDAQ: STLD), and raised the price target to $28.00 (from $25.50), following the company's 1Q earnings report. STLD reported EPS of $0.26 beating the Street's $0.23 estimate. Looking forward, STLD gave a positive outlook for Q2 as ASPs begin... More
Steel Dynamics (STLD) Tops Q1 EPS by 2c
April 20, 2016 6:01 PM EDTSteel Dynamics (NASDAQ: STLD) reported Q1 EPS of $0.26, $0.02 better than the analyst estimate of $0.24. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.71 billion.
"During the first quarter 2016, positive changes in the flat roll steel supply environment resulted in significantly improved sequential consolidated operating earnings, which increased over 175 percent to $132 million," said Mark D. Millett, President and Chief Executive Officer. "Flat roll steel import levels have declined and customer inventory levels are better matched with actual demand requirements, supporting higher domestic steel mill utilization. The domestic steel demand... More
