BUZZ-PREVIEW: Steel Dynamics shares hit highest since June following upbeat guidance
Steel Dynamicsshares rose 6.3% in late morning trading, reaching their highest level since June, following positive Q3 guidance. The company expects EPS between $2.60 and $2.64, with stronger profitability from steel operations compared to Q2. Analyst ratings include 11 "buy" or "strong buy" and four "hold". The median 12-month price target is $150, with the stock currently at $139.81, up 23% year-to-date, outperforming the Nasdaq's 15% gain.
Shares of Steel Dynamics (STLD.O) were 6.3% higher in late morning trading Tues, hitting their highest level since early June, after the co provided Q3 guidance above the consensus expectation The stock was also on track for its biggest daily pct gain since early June, when U.S. President Donald Trump said he would double tariffs on imports of both steel and aluminum to 50%
The co late Mon said it expects EPS in the range of $2.60 to $2.64 for its Q3 and that Q3 profitability from steel operations is expected to be stronger than sequential Q2 results The co in July reported Q2 results that disappointed
Analyst recommendations on the stock include 11 “buy” or “strong buy” ratings and four “hold” ratings, per LSEG
The median 12-mo price target on STLD is $150. The stock was last at $139.81
Including the session move, STLD is up about 23% for the YTD, compared with a roughly 15% gain in the Nasdaq (.IXIC)
