FY2024 EPS Estimate for Steel Dynamics Decreased by Analyst

Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at Seaport Res Ptn cut their FY2024 earnings per share (EPS) estimates for Steel Dynamics in a research note issued on Sunday, December 15th. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will post earnings of $9.85 per share for the year, down from their previous forecast of $9.98. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.09 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $2.66 EPS, Q3 2025 earnings at $2.55 EPS, Q4 2025 earnings at $2.43 EPS and FY2025 earnings at $9.24 EPS.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.47 EPS.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley decreased their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets lifted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $146.13.

Steel Dynamics Stock Down 1.5 %

Shares of NASDAQ:STLD opened at $116.76 on Wednesday. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The stock has a market cap of $17.78 billion, a P/E ratio of 10.57 and a beta of 1.31. The firm has a fifty day moving average price of $136.51 and a 200 day moving average price of $127.67.

Institutional Investors Weigh In On Steel Dynamics

A number of large investors have recently added to or reduced their stakes in the company. Holocene Advisors LP lifted its stake in Steel Dynamics by 85.8% during the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after buying an additional 548,086 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after buying an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after buying an additional 225,832 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $24,670,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is owned by insiders.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

Steel Dynamics Company Profile

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.