Steel Dynamics, Inc. (STLD) Expected to Post Quarterly Sales of $2.57 Billion

Wall Street brokerages expect that Steel Dynamics, Inc. (NASDAQ:STLD) will report $2.57 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Steel Dynamics’ earnings. The lowest sales estimate is $2.51 billion and the highest is $2.66 billion. Steel Dynamics posted sales of $2.37 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.4%. The business is expected to announce its next earnings report on Wednesday, April 18th.

On average, analysts expect that Steel Dynamics will report full year sales of $2.57 billion for the current year, with estimates ranging from $9.77 billion to $10.91 billion. For the next financial year, analysts expect that the business will report sales of $10.59 billion per share, with estimates ranging from $9.76 billion to $11.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Steel Dynamics.

Several brokerages have commented on STLD. Credit Suisse Group increased their price target on Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. BidaskClub downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 23rd. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Wednesday, January 24th. Cowen reiterated an “outperform” rating and set a $60.00 price target (up previously from $53.00) on shares of Steel Dynamics in a report on Wednesday, January 24th. Finally, BMO Capital Markets increased their price target on Steel Dynamics to $55.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.64.

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in Steel Dynamics by 8.2% during the third quarter. Canada Pension Plan Investment Board now owns 544,861 shares of the basic materials company’s stock worth $18,781,000 after buying an additional 41,400 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its stake in Steel Dynamics by 21.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 15,728 shares of the basic materials company’s stock worth $542,000 after buying an additional 2,758 shares in the last quarter. APG Asset Management N.V. acquired a new stake in Steel Dynamics during the third quarter worth $9,800,000. Prudential Financial Inc. boosted its stake in Steel Dynamics by 13.2% during the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after buying an additional 539,480 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. boosted its stake in Steel Dynamics by 5.0% during the second quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock worth $26,870,000 after buying an additional 35,777 shares in the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

Steel Dynamics (STLD) opened at $47.49 on Monday. Steel Dynamics has a twelve month low of $32.15 and a twelve month high of $48.14. The company has a current ratio of 4.04, a quick ratio of 1.95 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $11,250.00, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 1.03 and a beta of 1.40.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st were paid a $0.155 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.31%. Steel Dynamics’s payout ratio is 18.40%.

WARNING: “Steel Dynamics, Inc. (STLD) Expected to Post Quarterly Sales of $2.57 Billion” was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/01/29/steel-dynamics-inc-stld-expected-to-post-quarterly-sales-of-2-57-billion.html.

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.

Get a free copy of the Zacks research report on Steel Dynamics (STLD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply