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STLD

Steel Dynamics

$40.55

0.29 (0.72%)

18:05
10/17/18
10/17
18:05
10/17/18
18:05

Steel Dynamics CEO says 'delivered a tremendous third quarter performance'

"The team delivered a tremendous third quarter performance, once again attaining numerous operational and financial milestones," said Mark Millett, President and Chief Executive Officer. "Our third quarter 2018 income from operations of $532 million and adjusted EBITDA of $626 million were both record highs for the company. Our strong financial performance was the result of record steel shipments, average steel selling price improvement, and resulting metal spread expansion across our steel operations. Underlying domestic steel demand remained strong. There was some temporary hesitancy in flat roll order activity based on customer sentiment and increased hot roll coil import levels. However, demand from major steel consuming sectors was steady, including construction, automotive, and energy. Earnings from our metals recycling platform declined in the quarter primarily as a result of our nonferrous operations, as shipments and commodity prices declined. In addition, China's decision to ban certain grades of recycled material has had a negative impact on nonferrous sales volume. Our steel fabrication platform achieved record shipments in the quarter, as nonresidential construction demand remained strong and customer sentiment positive. The order backlog remained at near record highs entering October. Despite the positive demand environment, earnings from our steel fabrication operations slightly decreased by the continued rise in average steel input costs," said Millett.

  • 18

    Oct

STLD Steel Dynamics
$40.55

0.29 (0.72%)

10/02/18
DBAB
10/02/18
NO CHANGE
DBAB
Deutsche downgrades Reliance, U.S. Steel on more cautious steel stance
To reflect a more cautious view on steel stocks, Deutsche Bank analyst Chris Terry downgraded both Reliance Steel (RS) and U.S. Steel (X) to Hold from Buy. The analyst says his view on the sector is "moderating post peak pricing." Most positive data points and catalysts have now largely played out, Terry tells investors in a research note. The analyst, however, keeps Buy ratings on Commercial Metals (CMC), Nucor (NUE) and Steel Dynamics (STLD) citing more favorable risk/reward profiles.
10/11/18
GHSC
10/11/18
INITIATION
Target $55
GHSC
Buy
Steel Dynamics initiated with a Buy at Seaport Global
Seaport Global analyst Derek Hernandez initiated Steel Dynamics with a Buy and $55 price target saying its vertically integrated EAF platform is well suited to navigate the US steel market. Hernandez believes Steel Dynamics valuation reflects an overly pessimistic view of the steel sector and overly discounts the company's earnings potential, creating a buying opportunity in shares.
10/15/18
FBCO
10/15/18
DOWNGRADE
FBCO
Neutral
Steel Dynamics downgraded to Neutral from Outperform at Credit Suisse
10/15/18
FBCO
10/15/18
NO CHANGE
FBCO
Neutral
Credit Suisse downgrades U.S. Steel sector along with three stocks
Credit Suisse analyst Curt Woodworth downgraded his view on the U.S. Steel sector to Market Weight from Overweight due to concerns with new supply entering the sheet market as well as with U.S demand as interest rates rise. The analyst sees "limited potential for multiple expansion given late cycle fears." Further, in addition to cycle concerns and new supply risk, capital allocation by companies has disappointed relative to investors "wish lists," Woodworth tells investors in a research note. Along with the sector, the analyst downgraded Nucor (NUE), Steel Dynamics (STLD), and Cleveland-Cliffs (CLF) to Neutral from Outperform. Woodworth keeps Outperform ratings on US Steel (X) and AK Steel (AKS) as he sees upside to Street estimates on better 2019 contract pricing as well as more attractive valuations relative to historical forward multiples.

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MSM

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AWK

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FSNN

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PSA

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V

Visa

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NAVB

Navidea

$0.17

0.0001 (0.06%)

19:39
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19:39
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