Analysts Anticipate Steel Dynamics, Inc. (STLD) to Announce $1.00 EPS

Wall Street analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to post $1.00 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Steel Dynamics’ earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $1.20. Steel Dynamics reported earnings of $1.53 per share during the same quarter last year, which would indicate a negative year over year growth rate of 34.6%. The business is expected to issue its next earnings report on Monday, July 22nd.

According to Zacks, analysts expect that Steel Dynamics will report full year earnings of $3.57 per share for the current financial year, with EPS estimates ranging from $2.99 to $4.35. For the next fiscal year, analysts expect that the firm will report earnings of $3.22 per share, with EPS estimates ranging from $2.30 to $4.90. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. Steel Dynamics had a net margin of 10.26% and a return on equity of 33.56%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business posted $0.96 earnings per share. Steel Dynamics’s revenue for the quarter was up 8.2% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. ValuEngine lowered shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. BidaskClub lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Macquarie set a $36.00 target price on shares of Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Finally, Goldman Sachs Group set a $44.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.00.

In other Steel Dynamics news, insider Russell B. Rinn acquired 2,000 shares of the stock in a transaction dated Friday, May 31st. The stock was purchased at an average cost of $25.58 per share, for a total transaction of $51,160.00. Following the acquisition, the insider now owns 220,459 shares in the company, valued at approximately $5,639,341.22. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gabriel Shaheen acquired 5,000 shares of the stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $27.03 per share, with a total value of $135,150.00. Following the completion of the acquisition, the director now owns 58,635 shares in the company, valued at approximately $1,584,904.05. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in STLD. Cerebellum GP LLC increased its stake in shares of Steel Dynamics by 14.9% in the first quarter. Cerebellum GP LLC now owns 9,496 shares of the basic materials company’s stock worth $335,000 after buying an additional 1,229 shares during the period. Advisory Services Network LLC increased its stake in shares of Steel Dynamics by 810.9% in the first quarter. Advisory Services Network LLC now owns 19,357 shares of the basic materials company’s stock worth $683,000 after buying an additional 17,232 shares during the period. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 1.4% in the first quarter. Nordea Investment Management AB now owns 276,470 shares of the basic materials company’s stock worth $9,751,000 after buying an additional 3,767 shares during the period. Cleararc Capital Inc. purchased a new position in shares of Steel Dynamics in the first quarter worth $208,000. Finally, BlueMountain Capital Management LLC increased its stake in shares of Steel Dynamics by 144.5% in the first quarter. BlueMountain Capital Management LLC now owns 330,255 shares of the basic materials company’s stock worth $11,648,000 after buying an additional 195,196 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Steel Dynamics stock traded down $0.22 during mid-day trading on Thursday, hitting $25.98. 150,128 shares of the company traded hands, compared to its average volume of 2,459,658. Steel Dynamics has a one year low of $25.02 and a one year high of $51.32. The firm has a market cap of $5.89 billion, a PE ratio of 4.73, a PEG ratio of 0.62 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.02 and a quick ratio of 2.15.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.70%. Steel Dynamics’s payout ratio is 17.49%.

About Steel Dynamics

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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