Steel Dynamics, Inc. (NASDAQ:STLD) Issues Earnings Results, Hits Expectations
Steel Dynamics, Inc. (NASDAQ:STLD) released its quarterly earnings results on Monday. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63, Bloomberg Earnings reports. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a net margin of 6.19% and a return on equity of 21.77%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS.
Steel Dynamics (NASDAQ:STLD) traded up 2.71% on Wednesday, hitting $37.49. 3,208,402 shares of the stock were exchanged. Steel Dynamics has a 1-year low of $22.79 and a 1-year high of $40.17. The stock has a market cap of $9.06 billion, a PE ratio of 17.70 and a beta of 1.25. The company’s 50 day moving average is $34.94 and its 200 day moving average is $35.24.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 30th were given a $0.155 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.65%. Steel Dynamics’s payout ratio is currently 29.25%.
A number of equities research analysts recently weighed in on STLD shares. Zacks Investment Research lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Berenberg Bank reaffirmed a “buy” rating and set a $46.00 price target on shares of Steel Dynamics in a report on Monday, June 19th. Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Wednesday, May 24th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Saturday, June 24th. Finally, Longbow Research raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.03.
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Steel Dynamics Company Profile
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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