Steel Dynamics (NASDAQ:STLD) Price Target Raised to $255.00 at Citigroup

Key Points

• Citigroup raised its price target on Steel Dynamics to $255 (from $180) and kept a "buy" rating, implying about a 12% upside from the prior close.
• Steel Dynamics reported Q1 EPS of $2.78, missing consensus by $0.01 and revenue of $5.20B vs. $5.39B expected, although revenue rose 19.1% year-over-year amid higher steel prices and strong shipments.
• Multiple brokers raised targets (e.g., KeyCorp $241, BMO $240, Wells Fargo $235) and the stock traded at $227.65 near its 52-week high, but the MarketBeat consensus remains an average "Hold" rating with a $210.33 average price target.

Steel Dynamics (NASDAQ:STLD - Get Free Report) had its target price raised by equities research analysts at Citigroup from $180.00 to $255.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. Citigroup's price objective suggests a potential upside of 12.01% from the stock's previous close.

Several other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Steel Dynamics in a report on Monday, December 29th. Morgan Stanley reiterated an "underperform" rating and set a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Jefferies Financial Group reiterated a "buy" rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Wall Street Zen upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday. Finally, KeyCorp upped their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an "overweight" rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $210.33.

Steel Dynamics Price Performance

NASDAQ STLD traded up $7.44 on Wednesday, hitting $227.65. 1,065,351 shares of the company's stock were exchanged, compared to its average volume of 1,288,610. The stock has a 50-day moving average of $186.20 and a 200-day moving average of $173.18. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. Steel Dynamics has a 52 week low of $119.50 and a 52 week high of $228.00. The stock has a market cap of $32.95 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 0.56 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.64% and a net margin of 7.22%.The firm's quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the company posted $1.44 earnings per share. Analysts expect that Steel Dynamics will post 14.04 earnings per share for the current year.

Institutional Trading of Steel Dynamics

Several institutional investors have recently modified their holdings of the business. Lingohr Asset Management GmbH grew its holdings in Steel Dynamics by 1,284.8% during the 3rd quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company's stock worth $5,636,000 after acquiring an additional 37,504 shares during the period. Ninety One UK Ltd raised its position in shares of Steel Dynamics by 33.5% in the 3rd quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company's stock worth $16,712,000 after acquiring an additional 30,102 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Steel Dynamics in the 3rd quarter worth about $8,592,000. Forvis Mazars Wealth Advisors LLC bought a new position in shares of Steel Dynamics in the 3rd quarter worth about $1,047,000. Finally, Mediolanum International Funds Ltd raised its position in shares of Steel Dynamics by 157.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company's stock worth $28,629,000 after acquiring an additional 125,981 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

More Steel Dynamics News

Here are the key news stories impacting Steel Dynamics this week:

• Positive Sentiment: Multiple brokerages raised targets and reiterated buy/overweight stances, supporting upside sentiment: BMO to $240 (Outperform), Wells Fargo to $235 (Overweight) and KeyCorp to $241 (Overweight). These actions reinforce bullish expectations for STLD. Analyst Upgrades (Benzinga)
• Positive Sentiment: Company-level results and industry tailwinds cited as supportive — higher steel prices, record shipments and sustained demand were highlighted by major outlets, which helped drive the positive trading tone. Reuters: Quarterly Profit Rises
• Neutral Sentiment: Earnings materials and call transcripts are available for investors assessing forward guidance and segment performance — see the company slide deck and earnings-call transcripts for detail on steel vs. aluminum results and tariff impacts. Q1 Press Release / Slide Deck Earnings Call Transcript (Seeking Alpha)
• Negative Sentiment: Q1 EPS missed consensus by $0.01 ($2.78 vs. $2.79) and revenue showed mixed signals (reported $5.20B, with some outlets flagging the top-line as nuanced), which tempers the upside from price-target lifts and means investors will be parsing margin detail and cash/working-capital trends. MarketBeat: Q1 Results Summary

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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