Zacks: Brokerages Expect Steel Dynamics, Inc. (STLD) Will Announce Earnings of $1.00 Per Share

Equities analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to announce earnings of $1.00 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Steel Dynamics’ earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $1.07. Steel Dynamics posted earnings of $0.82 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 22%. The business is expected to issue its next quarterly earnings results on Wednesday, April 18th.

According to Zacks, analysts expect that Steel Dynamics will report full-year earnings of $3.87 per share for the current year, with EPS estimates ranging from $2.85 to $4.28. For the next fiscal year, analysts forecast that the firm will post earnings of $4.13 per share, with EPS estimates ranging from $3.33 to $5.25. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Steel Dynamics.

A number of research analysts recently weighed in on STLD shares. Bank of America lifted their target price on shares of 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 shares of Steel Dynamics and gave the company a “buy” rating in a research note on Friday, October 20th. Citigroup lifted their target price on shares of Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.64.

Steel Dynamics (STLD) opened at $44.72 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.29 and a current ratio of 4.04. Steel Dynamics has a one year low of $32.15 and a one year high of $48.28. The firm has a market cap of $10,323.99, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.94 and a beta of 1.34.

A number of hedge funds have recently made changes to their positions in the business. Boston Partners lifted its stake in Steel Dynamics by 3.6% in the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after purchasing an additional 593,498 shares in the last quarter. Prudential Financial Inc. lifted its stake in Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Steel Dynamics by 6.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,212,248 shares of the basic materials company’s stock worth $145,199,000 after purchasing an additional 247,077 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Steel Dynamics by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 3,278,380 shares of the basic materials company’s stock worth $141,398,000 after purchasing an additional 18,050 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Steel Dynamics by 2.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,816,748 shares of the basic materials company’s stock worth $97,093,000 after purchasing an additional 63,983 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

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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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