Zacks Research Estimates Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at Zacks Research issued their FY2024 earnings estimates for shares of Steel Dynamics in a research report issued to clients and investors on Tuesday, January 21st. Zacks Research analyst R. Department forecasts that the basic materials company will post earnings of $9.72 per share for the year. The consensus estimate for Steel Dynamics’ current full-year earnings is $9.70 per share. Zacks Research also issued estimates for Steel Dynamics’ Q4 2024 earnings at $1.28 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $2.31 EPS, Q3 2025 earnings at $2.34 EPS, FY2025 earnings at $8.48 EPS, Q3 2026 earnings at $3.17 EPS, Q4 2026 earnings at $1.95 EPS and FY2026 earnings at $10.77 EPS.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. During the same quarter in the prior year, the firm posted $2.61 earnings per share.

STLD has been the subject of several other reports. The Goldman Sachs Group started coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. Citigroup cut their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $140.88.

Steel Dynamics Trading Down 0.4 %

Shares of STLD opened at $122.37 on Thursday. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a market cap of $18.63 billion, a PE ratio of 11.07 and a beta of 1.36. Steel Dynamics has a 1 year low of $104.60 and a 1 year high of $155.56. The stock has a 50 day simple moving average of $127.61 and a 200-day simple moving average of $126.38.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is 16.65%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now 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. Insiders sold a total of 10,650 shares of company stock valued at $1,498,170 over the last ninety days. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

Several large investors have recently modified their holdings of the business. Commerce Bank lifted its position in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after acquiring an additional 73 shares in the last quarter. M&T Bank Corp raised its stake in shares of Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after purchasing an additional 88 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Steel Dynamics by 5.0% in the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 91 shares in the last quarter. Covestor Ltd boosted its position in shares of Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares during the period. Finally, Dorsey Wright & Associates grew its holdings in shares of Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

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.