Steel Dynamics (NASDAQ:STLD) Issues Q3 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $1.94-1.98 for the period, compared to the consensus EPS estimate of $2.09.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STLD shares. Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an equal weight rating for the company in a report on Wednesday. Bank of America cut their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a report on Wednesday, June 26th. UBS Group raised shares of Steel Dynamics from a neutral rating to a buy rating and raised their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets cut their price target on Steel Dynamics from $135.00 to $127.00 and set a market perform rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised Steel Dynamics from an underweight rating to a neutral rating and increased their price target for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $141.29.

Steel Dynamics Trading Up 0.6 %

Shares of STLD opened at $115.12 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics has a 52-week low of $98.03 and a 52-week high of $151.34. The firm has a market cap of $18.09 billion, a price-to-earnings ratio of 7.91 and a beta of 1.32. The business’s fifty day moving average is $120.74 and its 200-day moving average is $129.24.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.81 earnings per share. Equities analysts anticipate that Steel Dynamics will post 10.81 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.60%. Steel Dynamics’s payout ratio is presently 12.64%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.