$2.37 Billion in Sales Expected for Steel Dynamics, Inc. (STLD) This Quarter
Analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to announce $2.37 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued 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 12.9%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, October 18th.
On average, analysts expect that Steel Dynamics will report full-year sales of $2.37 billion for the current financial year, with estimates ranging from $9.15 billion to $9.53 billion. For the next fiscal year, analysts anticipate that the business will report sales of $9.47 billion per share, with estimates ranging from $8.95 billion to $10.12 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last posted its 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 during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue was up 18.1% compared to the same quarter last year.
Several equities analysts have recently issued reports on STLD shares. Clarkson Capital reaffirmed a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Longbow Research lowered Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. BidaskClub lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $40.63.
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Shares of Steel Dynamics (NASDAQ STLD) opened at 35.98 on Thursday. The stock has a 50 day moving average of $34.35 and a 200 day moving average of $34.89. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 16.53 and a beta of 1.29. Steel Dynamics has a 1-year low of $23.34 and a 1-year high of $40.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Saturday, September 30th will be issued a $0.155 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.62 annualized dividend and a yield of 1.72%. Steel Dynamics’s payout ratio is 28.57%.
In related news, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares in the company, valued at approximately $1,018,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $107,000. Hefty Wealth Partners grew its stake in shares of Steel Dynamics by 76.1% during the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 1,477 shares during the period. Washington Trust Bank grew its stake in shares of Steel Dynamics by 48.8% during the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock valued at $122,000 after purchasing an additional 1,113 shares during the period. Advisory Services Network LLC grew its stake in shares of Steel Dynamics by 2.3% during the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 101 shares during the period. Finally, Creative Planning grew its stake in shares of Steel Dynamics by 36.3% during the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after purchasing an additional 1,256 shares during the period. Institutional investors and hedge funds own 82.64% of the company’s stock.
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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