Wall Street analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to announce $2.38 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Steel Dynamics’ earnings. The lowest sales estimate is $2.30 billion and the highest is $2.49 billion. Steel Dynamics posted sales of $2.10 billion in the same quarter last year, which would indicate a positive year over year growth rate of 13.3%. The business is expected to report its next earnings report on Wednesday, October 18th.

According to Zacks, analysts expect that Steel Dynamics will report full year sales of $2.38 billion for the current financial year, with estimates ranging from $9.15 billion to $9.53 billion. For the next financial year, analysts forecast that the firm will report sales of $9.39 billion per share, with estimates ranging from $8.95 billion to $10.12 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the company posted $0.58 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year.

Several research firms have commented on STLD. BidaskClub lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Longbow Research reaffirmed a “buy” rating and set a $40.00 price target on shares of Steel Dynamics in a research report on Thursday, July 27th. Zacks Investment Research raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Clarkson Capital reaffirmed a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $40.59.

Shares of Steel Dynamics (NASDAQ:STLD) opened at 36.12 on Thursday. The stock has a 50 day moving average of $36.07 and a 200 day moving average of $35.22. The stock has a market capitalization of $8.66 billion, a PE ratio of 16.59 and a beta of 1.23. Steel Dynamics has a 52-week low of $22.79 and a 52-week high of $40.17.

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In related news, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the transaction, the insider now owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now directly owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in STLD. Strs Ohio raised its position in shares of Steel Dynamics by 0.4% in the first quarter. Strs Ohio now owns 220,167 shares of the basic materials company’s stock worth $7,653,000 after buying an additional 888 shares in the last quarter. Shell Asset Management Co. acquired a new position in shares of Steel Dynamics during the first quarter worth $357,000. Janney Montgomery Scott LLC raised its position in shares of Steel Dynamics by 142.5% in the first quarter. Janney Montgomery Scott LLC now owns 169,665 shares of the basic materials company’s stock worth $5,898,000 after buying an additional 99,693 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Steel Dynamics by 57.5% in the first quarter. Glen Harbor Capital Management LLC now owns 191,760 shares of the basic materials company’s stock worth $6,665,000 after buying an additional 70,040 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in shares of Steel Dynamics by 7.4% in the first quarter. First Citizens Bank & Trust Co. now owns 11,617 shares of the basic materials company’s stock worth $404,000 after buying an additional 800 shares in the last quarter. 85.59% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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