JPMorgan Chase & Co. Has Lowered Expectations for Steel Dynamics (NASDAQ:STLD) Stock Price

Posted by Francis Steltz on Sep 18th, 2026

Steel Dynamics (NASDAQ:STLD – Get Free Report) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $273.00 to $272.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 16.13% from the stock’s current price.

STLD has been the subject of several other research reports. UBS Group increased their target price on Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Barclays raised their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $255.00 to $257.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings cut shares of Steel Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 11th. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Wednesday, July 29th. They set a “buy” rating and a $300.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $258.55.

View Our Latest Analysis on Steel Dynamics

Steel Dynamics Stock Performance

NASDAQ:STLD traded down $11.13 during midday trading on Friday, reaching $234.22. The stock had a trading volume of 674,871 shares, compared to its average volume of 1,221,830. The stock has a market capitalization of $33.57 billion, a P/E ratio of 21.19, a PEG ratio of 0.42 and a beta of 1.50. Steel Dynamics has a 1-year low of $134.87 and a 1-year high of $288.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The firm’s fifty day simple moving average is $243.93 and its 200-day simple moving average is $228.26.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last released its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The business’s revenue was up 33.4% on a year-over-year basis. On average, equities research analysts forecast that Steel Dynamics will post 18.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STLD. Baird Financial Group Inc. grew its holdings in Steel Dynamics by 9.9% during the 2nd quarter. Baird Financial Group Inc. now owns 187,906 shares of the basic materials company’s stock worth $43,117,000 after acquiring an additional 16,930 shares during the last quarter. Sapient Capital LLC lifted its position in Steel Dynamics by 34.6% during the 2nd quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock valued at $102,958,000 after purchasing an additional 115,080 shares during the period. BlackRock Inc. bought a new position in shares of Steel Dynamics in the 2nd quarter valued at about $2,844,501,000. OP Asset Management Ltd acquired a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $2,568,000. Finally, Knights of Columbus Asset Advisors LLC raised its stake in shares of Steel Dynamics by 93.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 30,808 shares of the basic materials company’s stock worth $5,220,000 after buying an additional 14,873 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Key Stories Impacting Steel Dynamics

Here are the key news stories impacting Steel Dynamics this week:

Positive Sentiment: Steel Dynamics expects third-quarter diluted EPS of $5.34 to $5.38, reflecting continued earnings growth supported by strong steel demand, record shipments, higher selling prices, stronger margins and lower scrap costs. Steel Dynamics Provides Third Quarter 2026 Earnings Guidance
Positive Sentiment: From a technical perspective, STLD recently moved above its 50-day moving average after finding support, a signal that could indicate renewed short-term momentum. Steel Dynamics Recently Broke Out Above the 50-Day Moving Average
Positive Sentiment: Analysts and momentum-focused coverage remain constructive after STLD significantly outperformed the S&P 500 over the past year, while the company’s operating outlook continues to benefit from robust steel demand.
Neutral Sentiment: The guidance represents expected sequential and year-over-year earnings growth, but investors are weighing the quality of that growth against external trade risks and expectations already embedded in the stock’s valuation.
Negative Sentiment: The EPS outlook is below the consensus estimate of $5.66, raising concerns that near-term results may not meet the high expectations reflected in STLD’s share price. Steel Dynamics Issues Third-Quarter Earnings Guidance Below Street Views
Negative Sentiment: Canada’s reported 50% tariff on U.S. steel creates a material risk for Steel Dynamics’ cross-border demand, pricing and margins, contributing to the stock’s decline. Steel Dynamics Stock Drops on Canadian Tariffs and Disappointing Q3 Outlook

About Steel Dynamics

(Get Free Report)

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. Founded in 1993, the company operates electric arc furnaces that use recycled steel and other metallic inputs to manufacture a broad range of steel products. Its customers include companies in the construction, automotive, manufacturing, transportation, energy and appliance industries.

Steel Dynamics’ steel operations produce flat-rolled steel, structural steel, rail, engineered bar products and other specialty steel products.