Steel Dynamics (STLD) to Release Quarterly Earnings on Wednesday

Steel Dynamics (NASDAQ:STLD) is set to issue its quarterly earnings data before the market opens on Wednesday, October 16th. Analysts expect the company to announce earnings of $1.98 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the business posted $4.81 EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts expect Steel Dynamics to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Steel Dynamics Trading Down 2.3 %

Shares of NASDAQ:STLD opened at $127.03 on Wednesday. The business’s fifty day simple moving average is $119.48 and its 200-day simple moving average is $128.13. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics has a 12-month low of $98.25 and a 12-month high of $151.34. The company has a market capitalization of $19.96 billion, a PE ratio of 8.72 and a beta of 1.31.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. Steel Dynamics’s payout ratio is 12.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on STLD shares. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley decreased their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $120.00 to $131.00 in a research note on Monday, September 9th. BMO Capital Markets decreased their price target on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a report on Tuesday, September 17th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $142.71.

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.