Steel Dynamics, Inc. (STLD) Releases Q2 Earnings Guidance
Steel Dynamics, Inc. (NASDAQ:STLD) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.28-0.32 for the period, compared to the Thomson Reuters consensus estimate of $0.32, Analyst Ratings Net reports.
STLD has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Steel Dynamics from an underperform rating to a neutral rating in a research note on Wednesday, May 21st. They now have a $18.10 price target on the stock. On a related note, analysts at Jefferies Group reiterated a buy rating on shares of Steel Dynamics in a research note on Thursday, May 15th. They now have a $21.00 price target on the stock. Finally, analysts at Cowen and Company upgraded shares of Steel Dynamics from a market perform rating to an outperform rating in a research note on Thursday, May 15th. They now have a $24.00 price target on the stock, up previously from $20.00. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Steel Dynamics has a consensus rating of Buy and a consensus target price of $19.67.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at 17.38 on Tuesday. Steel Dynamics, Inc. has a one year low of $13.85 and a one year high of $19.74. The stock has a 50-day moving average of $17.76 and a 200-day moving average of $17.91. The company has a market cap of $3.882 billion and a P/E ratio of 22.21.
Steel Dynamics (NASDAQ:STLD) last released its earnings data on Wednesday, April 16th. The company reported $0.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company posted $0.21 earnings per share. Steel Dynamics’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that Steel Dynamics, Inc. will post $1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 2.65%.
Steel Dynamics, Inc is a steel producer and metals recycler in the United States. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations.