Steel Dynamics, Inc. (STLD) Expected to Post Earnings of $0.67 Per Share
Equities research analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to announce earnings per share (EPS) of $0.67 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Steel Dynamics’ earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.66. Steel Dynamics posted earnings per share of $0.65 during the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, October 18th.
According to Zacks, analysts expect that Steel Dynamics will report full-year earnings of $2.69 per share for the current financial year, with EPS estimates ranging from $2.52 to $2.80. For the next fiscal year, analysts expect that the firm will report earnings of $2.83 per share, with EPS estimates ranging from $2.35 to $3.25. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (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 for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis.
Several equities analysts recently commented on STLD shares. BidaskClub cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Berenberg Bank reiterated a “buy” rating and set a $46.00 target price on shares of Steel Dynamics in a research note on Monday, June 19th. Deutsche Bank AG reiterated a “buy” rating on shares of Steel Dynamics in a research note on Saturday, June 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $45.00 target price on shares of Steel Dynamics in a research note on Monday, June 26th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $40.63.
In related news, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares in the company, valued at approximately $1,018,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the sale, the director now owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in STLD. BlackRock Inc. increased its position in shares of Steel Dynamics by 11,858.1% during the 1st quarter. BlackRock Inc. now owns 20,091,806 shares of the basic materials company’s stock worth $698,391,000 after purchasing an additional 19,923,788 shares in the last quarter. Steadfast Capital Management LP acquired a new stake in shares of Steel Dynamics during the 1st quarter worth about $81,408,000. Boston Partners increased its position in shares of Steel Dynamics by 11.9% during the 2nd quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock worth $586,703,000 after purchasing an additional 1,742,242 shares in the last quarter. State Street Corp increased its position in shares of Steel Dynamics by 17.9% during the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after purchasing an additional 1,346,487 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Steel Dynamics by 21.7% during the 2nd quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock worth $146,088,000 after purchasing an additional 727,722 shares in the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.
Steel Dynamics (STLD) traded up 0.34% during midday trading on Tuesday, reaching $35.63. 2,057,041 shares of the company traded hands. The firm has a 50 day moving average of $34.24 and a 200-day moving average of $34.87. Steel Dynamics has a 12 month low of $23.34 and a 12 month high of $40.17. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 16.37 and a beta of 1.29.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Saturday, September 30th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 28th. Steel Dynamics’s dividend payout ratio is 28.57%.
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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