J.P. Morgan analyst Michael Glick maintained a Buy rating on Steel Dynamics (NASDAQ:STLD) on Friday, setting a price target of $86, which is approximately 43.17% above the present share price of $60.07.
Glick expects Steel Dynamics to post earnings per share (EPS) of $4.89 for the fourth quarter of 2021.
The current consensus among 6 TipRanks analysts is for a Moderate Buy rating of shares in Steel Dynamics, with an average price target of $78.25.
The analysts price targets range from a high of $98 to a low of $66.5.
In its latest earnings report, released on 09/30/2021, the company reported a quarterly revenue of $5.09 billion and a net profit of $1.32 billion. The company's market cap is $11.92 billion.
According to TipRanks.com, J.P. Morgan analyst Michael Glick is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.6% and a 40.12% success rate.
Steel Dynamics, Inc. engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Other. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting. The Metals Recycling Operations segment provides an array of both ferrous and non-ferrous scrap recycling, scrap management, transportation, and brokerage products and services. The Steel Fabrication Operations segment offers steel joists, girders, and steel deck, including specialty deck. The Other segment comprises of subsidiary operations and certain unallocated corporate accounts. The company was founded by Keith E. Busse, Mark D. Millett, Richard P. Teets and John C. Bates in August 1993 and is headquartered in Fort Wayne, IN.