Brokerages forecast that Steel Dynamics, Inc. (NASDAQ:STLD) will report $2.16 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Steel Dynamics’ earnings, with the highest sales estimate coming in at $2.24 billion and the lowest estimate coming in at $2.12 billion. Steel Dynamics reported sales of $1.91 billion in the same quarter last year, which would suggest a positive year over year growth rate of 13.1%. The company is scheduled to report its next earnings results after the market closes on Monday, January 22nd.

According to Zacks, analysts expect that Steel Dynamics will report full-year sales of $2.16 billion for the current year, with estimates ranging from $9.32 billion to $9.50 billion. For the next year, analysts expect that the company will post sales of $9.94 billion per share, with estimates ranging from $9.36 billion to $10.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year.

STLD has been the topic of a number of analyst reports. Bank of America lifted their price target on Steel Dynamics from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Cowen set a $43.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Friday, October 20th. Citigroup boosted their target price on Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research report on Saturday, September 16th. Finally, KeyCorp reiterated a “buy” rating and set a $44.00 target price on shares of Steel Dynamics in a research report on Friday, November 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.71.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STLD. Neuberger Berman Group LLC raised its holdings in shares of Steel Dynamics by 6.9% in the second quarter. Neuberger Berman Group LLC now owns 72,791 shares of the basic materials company’s stock worth $2,607,000 after acquiring an additional 4,684 shares during the last quarter. LSV Asset Management raised its holdings in shares of Steel Dynamics by 70.1% in the second quarter. LSV Asset Management now owns 197,000 shares of the basic materials company’s stock worth $7,054,000 after acquiring an additional 81,200 shares during the last quarter. Tredje AP fonden acquired a new position in shares of Steel Dynamics in the second quarter worth $492,000. Private Advisor Group LLC raised its holdings in shares of Steel Dynamics by 7.0% in the second quarter. Private Advisor Group LLC now owns 14,728 shares of the basic materials company’s stock worth $535,000 after acquiring an additional 960 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of Steel Dynamics by 2.9% in the second quarter. CIBC World Markets Inc. now owns 30,787 shares of the basic materials company’s stock worth $1,102,000 after acquiring an additional 857 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

Steel Dynamics (NASDAQ:STLD) traded up $1.07 during trading on Friday, hitting $47.12. The company had a trading volume of 1,838,300 shares, compared to its average volume of 2,496,550. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35. Steel Dynamics has a 12-month low of $32.15 and a 12-month high of $47.18. The stock has a market capitalization of $11,130.00, a P/E ratio of 21.71, a PEG ratio of 1.26 and a beta of 1.40.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st were issued a $0.155 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.32%. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.

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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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