Posted by admin on Jul 22nd, 2022
Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) – Equities research analysts at Seaport Res Ptn upped their Q3 2022 earnings estimates for shares of Steel Dynamics in a research note issued to investors on Wednesday, July 20th. Seaport Res Ptn analyst M. Englert now forecasts that the basic materials company will earn $5.19 per share for the quarter, up from their previous forecast of $4.87. The consensus estimate for Steel Dynamics’ current full-year earnings is $19.77 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q4 2022 earnings at $2.51 EPS.
A number of other brokerages have also issued reports on STLD. The Goldman Sachs Group lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $114.00 to $92.00 in a report on Tuesday, May 31st. UBS Group set a $95.00 price objective on shares of Steel Dynamics in a report on Monday, June 20th. JPMorgan Chase & Co. decreased their price objective on shares of Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. Finally, Morgan Stanley cut their target price on shares of Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.
Steel Dynamics stock opened at $70.73 on Thursday. The firm’s fifty day moving average price is $73.18 and its 200-day moving average price is $73.23. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.74 and a current ratio of 3.42. The stock has a market cap of $13.35 billion, a P/E ratio of 3.65 and a beta of 1.38. Steel Dynamics has a fifty-two week low of $50.54 and a fifty-two week high of $100.37.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.39. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the company posted $3.40 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rational Advisors LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at $25,000. Citizens National Bank Trust Department purchased a new stake in Steel Dynamics during the fourth quarter valued at $25,000. Allegheny Financial Group LTD purchased a new stake in Steel Dynamics during the fourth quarter valued at $27,000. UMB Bank N A MO purchased a new stake in Steel Dynamics during the fourth quarter valued at $27,000. Finally, Riverview Trust Co purchased a new stake in shares of Steel Dynamics in the first quarter valued at $28,000. Institutional investors own 83.19% of the company’s stock.
In related news, Director Keith E. Busse sold 5,040 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total transaction of $420,890.40. Following the completion of the transaction, the director now owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.40% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.92%. Steel Dynamics’s payout ratio is currently 7.02%.
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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