What to Expect From Steel Dynamics’ Report — TradingView News

Based in Fort Wayne, Indiana, Steel Dynamics, Inc. STLD is a leading steel producer and metal recycler serving customers across North America. With a market cap of $20.35 billion, Steel Dynamics is known for its innovative and sustainable practices in steel production. The company will announce its fiscal Q2 earnings results after the market closes on Wednesday, July 17.

Ahead of the event, analysts expect Steel Dynamics to report a IYM 1.3% return over the same time frame.

STLD reported its Q1 results on Apr. 23. The company’s revenue for the period was $4.69 billion, falling short of the anticipated $4.74 billion. The stock declined 2.3% on the earnings release day and decreased 3.2% the following day.

The consensus opinion on Steel Dynamics stock is cautious, with an overall “Hold” rating. Out of 11 analysts covering the stock, 2 advise a “Strong Buy” rating, 7 recommend a “Hold,” and the remaining two analysts suggest a “Strong sell” rating. The average analyst price target for STLD is $134, indicating a potential upside of 3.5% from the current levels. 

On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.