Brokerages forecast that Steel Dynamics, Inc. (NASDAQ:STLD) will report earnings of $2.11 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Steel Dynamics’ earnings. The highest EPS estimate is $2.52 and the lowest is $1.92. Steel Dynamics posted earnings per share of $0.88 in the same quarter last year, which suggests a positive year over year growth rate of 139.8%. The business is expected to announce its next earnings results after the market closes on Monday, April 19th.
According to Zacks, analysts expect that Steel Dynamics will report full year earnings of $6.24 per share for the current financial year, with EPS estimates ranging from $5.29 to $6.85. For the next year, analysts anticipate that the firm will post earnings of $2.88 per share, with EPS estimates ranging from $1.85 to $3.77. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Sunday, January 24th. The basic materials company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.15. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Steel Dynamics had a return on equity of 13.33% and a net margin of 5.17%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share.
Several research firms have recently weighed in on STLD. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Tuesday, March 16th. BMO Capital Markets lifted their price objective on Steel Dynamics from $46.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, March 18th. They noted that the move was a valuation call. Credit Suisse Group raised Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $52.00 target price on the stock in a research report on Wednesday, February 3rd. Finally, Morgan Stanley upped their target price on Steel Dynamics from $44.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, March 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Steel Dynamics presently has an average rating of “Buy” and a consensus price target of $39.11.
Shares of NASDAQ:STLD traded down $0.31 during midday trading on Thursday, hitting $50.77. 111,834 shares of the stock were exchanged, compared to its average volume of 2,278,380. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.91 and a current ratio of 3.28. The business’s 50-day moving average price is $46.41 and its 200 day moving average price is $38.17. Steel Dynamics has a 12 month low of $20.58 and a 12 month high of $52.59.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 16th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Tuesday, March 30th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.25. Steel Dynamics’s dividend payout ratio is 33.55%.
In other Steel Dynamics news, Director Keith E. Busse sold 8,035 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $49.06, for a total value of $394,197.10. Corporate insiders own 5.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ellevest Inc. bought a new stake in shares of Steel Dynamics in the fourth quarter worth about $26,000. Capital Asset Advisory Services LLC bought a new stake in Steel Dynamics during the 4th quarter valued at approximately $51,000. TD Ameritrade Investment Management LLC bought a new stake in Steel Dynamics during the 4th quarter valued at approximately $51,000. First National Bank of South Miami boosted its position in Steel Dynamics by 98.3% during the 4th quarter. First National Bank of South Miami now owns 1,866 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 925 shares in the last quarter. Finally, PGGM Investments bought a new stake in Steel Dynamics during the 4th quarter valued at approximately $175,000. 79.95% of the stock is currently owned by institutional investors.
Steel Dynamics Company Profile
Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.
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