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STLD

Steel Dynamics

$31.55

0.09 (0.29%)

18:04
07/22/19
07/22
18:04
07/22/19
18:04

Steel Dynamics reports Q2 operating income $295M, down 6% from Q1

Q2 average external product selling price for the company's overall steel operations decreased $23 sequentially to $879 per ton. Q2 The average ferrous scrap cost per ton melted at the company's steel mills decreased $22 to $316 per ton. CEO Mark Millett says: "A weakening scrap price environment coupled with steel inventory destocking led to steel buying hesitancy. Despite these challenges, supported by the addition of United Steel Supply and the continued ramp-up of Heartland, our steel platform shipments improved. As underlying steel demand remains constructive and scrap prices have steadied, we have recently seen stabilization and improvement in flat roll steel prices, resulting in increased flat roll order activity and improved order backlogs. However, structural, merchant bar, and reinforcing bar steel pricing remain pressured from domestic and import market competition."

  • 23

    Jul

  • 06

    Aug

STLD Steel Dynamics
$31.55

0.09 (0.29%)

05/30/19
DBAB
05/30/19
DOWNGRADE
DBAB
Hold
Steel Dynamics downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Steel Dynamics to Hold from Buy to reflect a more negative stance on steel.
05/30/19
DBAB
05/30/19
DOWNGRADE
Target $30
DBAB
Hold
Steel Dynamics downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Steel Dynamics to Hold from Buy and lowered his price target for the shares to $30 from $44. The analyst made rating changes in the Steel and Service Centers space after reviewing his firm's pricing forecasts. Terry says that even though stocks have been already been under pressure, he's cautious on the near term for the Steel and Service Centers sub-sector. The analyst moved his recommendations to a more negative stance and sees value elsewhere, especially in precious metals.
06/26/19
JEFF
06/26/19
NO CHANGE
JEFF
Nucor flat rolled price increase likely to help sentiment, says Jefferies
After Nucor (NUE) announced a $40/t flat rolled price increase yesterday, which was the first increase since February, Jefferies analyst Martin Englert said he thinks peers are likely to follow. While the increase may not immediately raise prices, it is a move in the right direction that aids more positive sector sentiment, Englert tell investors. The analyst, who advises investors to increase exposure to steel stocks, names Nucor, Steel Dynamics (STLD), Cleveland-Cliffs (CLF) and Commercial Metals (CMC) as his top U.S. picks Other publicly traded companies in the steel space include AK Steel (AKS), ArcelorMittal (MT), TimkenSteel (TMST) and U.S. Steel (X).
06/27/19
DBAB
06/27/19
NO CHANGE
DBAB
Hold
Deutsche Bank places 'Catalyst Call' buy on Steel Dynamics
Deutsche Bank analyst Chris Terry placed a "Catalyst Call" buy on shares of Steel Dynamics (STLD) with the stock down 17% since late November 2018. The analyst keeps a Hold rating on the name but sees a shorter term opportunity for upside. Steel Dynamics is ~70% exposed to flat steel, where pricing is now likely bottoming, Terry tells investors in a research note. In addition, U.S. Steel (X) recently announced 2.5mt of capacity curtailments which could improve sentiment towards pricing and the future supply/demand balance, adds the analyst.

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