New York, July 25 (FinanceEnquiry.com) – Analyst Leo Larkin at S&P CAPITAL IQ upgrades their ratings on Steel Dynamics from SELL to HOLD. The 12-month target price has been increased from $9 to $13.
In a research note published yesterday, the analyst mentions that the target price has been raised as half of the 2012 has completed and STLD would now be valued on the EPS estimate of 2013. The 2012 EPS estimates has been reduced from $0.90 to $0.79 on a less optimistic outlook for the metals recycling segment, though the 2013 has been kept the same at $1.37.
On the basis of new target price, projected P/E on 2013 estimate would be at the low end of 10-year historical range. STLD reported Q2 EPS of $0.20 against $0.43 on a sales decline of 8.2 percent exceeding the bank’s estimate of $0.18 and Capital IQ consensus estimate of $0.19, the analyst says.
New York, May 24 (FinanceEnquiry.com) – The economic statistics unleashed on May 23 signified solid vocation expansion and gave more indications that housing is getting better. Being a level constant with steady...Spice M-5566 Flo Entertainer: Sail Smoothly with New Technology - May 23, 2013
New York, May 21 (FinanceEnquiry.com) – Corn slipped for another day as soon as US planters stepped up planting on warmer climate, improving cheerfulness that output in the largest producer will arrive at a...Crude Oil Futures Fall in Asia; Market Looks Forward to Bernanke’s Evidence - May 20, 2013
New York, May 20 (FinanceEnquiry.com) – Since investors remained on the sidelines prior to the viewpoint of US Federal Reserve chairman on the economy afterward in the week, due to this, crude oil futures...Wall Street Futures on Upturn - May 17, 2013
Detailing it, by 0.21 percent, the Dow Jones industrial...Confidence amid House Builders Improves in May - May 16, 2013
New York, May 15 (FinanceEnquiry.com) – On apprehensions on the subject of increasing supplies from the United States and an austere stance for worldwide demand expansion, Brent futures fell towards $102 per barrel...European Stocks Likely to Start Higher; the Dollar Becomes Feeble - May 14, 2013
New York, May 14 (FinanceEnquiry.com) – On May 14, European stocks are probable to start higher, at the side of feebler government bonds, as soon as US retail sales statistics came above anticipations...Gold and Oil Costs Slip since Dollar Fortifies; Japanese Equities Surpass - May 13, 2013
New York, May 13 (FinanceEnquiry.com) – Pulling Asian shares lower, oil and gold costs slipped on the very first day of this week seeing that the dollar fortified, even though on the back of the yen's fall to...