Wall Street brokerages expect Steel Dynamics, Inc. (NASDAQ:STLD) to post earnings per share (EPS) of $0.58 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Steel Dynamics’ earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.56. Steel Dynamics posted earnings per share of $1.31 during the same quarter last year, which would indicate a negative year-over-year growth rate of 55.7%. The company is scheduled to announce its next quarterly earnings results on Tuesday, January 28th.
According to Zacks, analysts expect that Steel Dynamics will report full-year earnings of $3.05 per share for the current financial year, with EPS estimates ranging from $3.03 to $3.08. For the next financial year, analysts expect that the company will post earnings of $2.67 per share, with EPS estimates ranging from $2.35 to $3.16. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.01). The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.62 billion. Steel Dynamics had a return on equity of 22.08% and a net margin of 7.44%. During the same quarter in the prior year, the firm posted $1.69 earnings per share.
STLD has been the subject of a number of research analyst reports. Bank of America reduced their price objective on shares of Steel Dynamics from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. BNP Paribas assumed coverage on Steel Dynamics in a report on Thursday, November 14th. They set an “outperform” rating and a $40.00 price target for the company. Longbow Research downgraded Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. BidaskClub raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday. Finally, ValuEngine upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $33.17.
In other news, SVP Miguel Alvarez purchased 8,920 shares of Steel Dynamics stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $27.72 per share, for a total transaction of $247,262.40. Following the transaction, the senior vice president now owns 700 shares of the company’s stock, valued at approximately $19,404. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group grew its position in Steel Dynamics by 96.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 500 shares during the last quarter. Signaturefd LLC increased its holdings in Steel Dynamics by 752.6% in the 2nd quarter. Signaturefd LLC now owns 1,151 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,016 shares in the last quarter. Quest Capital Management Inc. ADV bought a new position in Steel Dynamics in the third quarter valued at about $38,000. Stonebridge Capital Advisors LLC bought a new position in Steel Dynamics in the second quarter valued at about $39,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of Steel Dynamics by 39.1% during the third quarter. AdvisorNet Financial Inc now owns 2,001 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 562 shares in the last quarter. Institutional investors and hedge funds own 79.60% of the company’s stock.
STLD traded up $0.53 during trading hours on Friday, reaching $34.29. The company’s stock had a trading volume of 32,427 shares, compared to its average volume of 1,769,158. The company’s 50-day moving average is $31.43 and its 200-day moving average is $29.54. Steel Dynamics has a 52 week low of $25.02 and a 52 week high of $39.35. The firm has a market cap of $7.27 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.24 and a current ratio of 4.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.80%. Steel Dynamics’s payout ratio is 17.49%.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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