Steel Dynamics, Inc. (STLD) Releases Q2 Earnings Guidance
Steel Dynamics, Inc. (NASDAQ:STLD) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.60-0.64 for the period, compared to the Thomson Reuters consensus estimate of $0.85.
Steel Dynamics, Inc. (STLD) opened at 32.85 on Friday. The stock has a 50 day moving average price of $34.90 and a 200-day moving average price of $35.55. Steel Dynamics, Inc. has a 52 week low of $22.79 and a 52 week high of $40.17. The stock has a market cap of $7.94 billion, a P/E ratio of 15.51 and a beta of 1.29. Steel Dynamics also saw unusually large options trading activity on Tuesday. Stock investors purchased 8,351 put options on the stock. This represents an increase of approximately 1,058% compared to the typical daily volume of 721 put options.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, April 19th. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.03. Steel Dynamics had a net margin of 6.19% and a return on equity of 21.77%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities analysts anticipate that Steel Dynamics, Inc. will post $3.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 30th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.89%. Steel Dynamics’s dividend payout ratio is currently 29.25%.
Several equities research analysts recently issued reports on STLD shares. Deutsche Bank AG raised their target price on shares of Steel Dynamics from $42.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, March 21st. Credit Suisse Group upgraded shares of Steel Dynamics from a neutral rating to an outperform rating and set a $36.00 target price on the stock in a report on Wednesday, May 24th. Macquarie restated a neutral rating on shares of Steel Dynamics in a report on Monday, March 20th. Zacks Investment Research upgraded shares of Steel Dynamics from a hold rating to a buy rating and set a $37.00 target price on the stock in a report on Friday, April 21st. Finally, J P Morgan Chase & Co raised their target price on shares of Steel Dynamics from $41.00 to $44.00 and gave the stock an overweight rating in a report on Wednesday, March 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $37.91.
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About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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