Posted by admin on Jun 7th, 2022
Equities analysts expect Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) to post $5.64 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Steel Dynamics’ earnings. The highest EPS estimate is $6.07 and the lowest is $4.65. Steel Dynamics posted earnings per share of $3.40 during the same quarter last year, which indicates a positive year over year growth rate of 65.9%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Steel Dynamics will report full year earnings of $21.52 per share for the current year, with EPS estimates ranging from $18.24 to $26.59. For the next fiscal year, analysts anticipate that the business will report earnings of $12.52 per share, with EPS estimates ranging from $8.92 to $16.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Steel Dynamics.
Steel Dynamics (NASDAQ:STLD – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.58 by $0.44. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The company’s quarterly revenue was up 57.1% compared to the same quarter last year.
Several brokerages recently issued reports on STLD. The Goldman Sachs Group lowered Steel Dynamics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $114.00 to $92.00 in a research note on Tuesday, May 31st. StockNews.com initiated coverage on Steel Dynamics in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. BMO Capital Markets upped their price objective on Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. Zacks Investment Research lowered Steel Dynamics from a “strong-buy” rating to a “hold” rating and set a $82.00 price objective on the stock. in a research note on Tuesday, May 24th. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $95.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.25.
STLD traded up $0.43 on Tuesday, hitting $82.79. 2,225 shares of the stock traded hands, compared to its average volume of 2,105,007. Steel Dynamics has a 52 week low of $50.54 and a 52 week high of $100.37. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $15.62 billion, a PE ratio of 4.24 and a beta of 1.30. The business has a fifty day moving average price of $83.55 and a two-hundred day moving average price of $71.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Wednesday, June 29th. Steel Dynamics’s payout ratio is currently 7.02%.
Steel Dynamics declared that its Board of Directors has approved a stock repurchase program on Monday, February 28th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 8.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Keith E. Busse sold 5,040 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the transaction, the director now directly owns 724,034 shares of the company’s stock, valued at approximately $60,464,079.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of STLD. Rational Advisors LLC acquired a new position in Steel Dynamics during the 4th quarter worth $25,000. Citizens National Bank Trust Department acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $25,000. Allegheny Financial Group LTD acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $27,000. UMB Bank N A MO acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $27,000. Finally, Riverview Trust Co acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $28,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Steel Dynamics Company Profile (Get Rating)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
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