Analysts Anticipate Steel Dynamics, Inc. (STLD) Will Post Quarterly Sales of $2.57 Billion

Equities analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to post sales of $2.57 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Steel Dynamics’ earnings. The highest sales estimate is $2.66 billion and the lowest is $2.51 billion. Steel Dynamics reported sales of $2.37 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.4%. The company is expected to announce its next quarterly earnings results on Wednesday, April 18th.

On average, analysts expect that Steel Dynamics will report full-year sales of $2.57 billion for the current financial year, with estimates ranging from $9.77 billion to $11.03 billion. For the next financial year, analysts anticipate that the firm will report sales of $10.61 billion per share, with estimates ranging from $9.76 billion to $11.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Steel Dynamics.

A number of equities analysts recently commented on STLD shares. Cowen set a $43.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Friday, October 20th. ValuEngine cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Citigroup lifted their target price on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Finally, Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.64.

Steel Dynamics (NASDAQ STLD) opened at $46.79 on Thursday. The company has a market cap of $11,090.00, a price-to-earnings ratio of 13.88, a P/E/G ratio of 0.96 and a beta of 1.34. Steel Dynamics has a 52-week low of $32.15 and a 52-week high of $48.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29.

A number of institutional investors have recently made changes to their positions in STLD. Lazard Asset Management LLC grew its holdings in Steel Dynamics by 348.9% in the 4th quarter. Lazard Asset Management LLC now owns 6,556,430 shares of the basic materials company’s stock worth $282,777,000 after acquiring an additional 5,096,015 shares during the last quarter. Millennium Management LLC grew its holdings in Steel Dynamics by 163.0% in the 4th quarter. Millennium Management LLC now owns 1,935,141 shares of the basic materials company’s stock worth $83,463,000 after acquiring an additional 1,199,224 shares during the last quarter. SG Capital Management LLC bought a new stake in Steel Dynamics in the 4th quarter worth $36,928,000. UBS Asset Management Americas Inc. grew its holdings in Steel Dynamics by 125.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,431,743 shares of the basic materials company’s stock worth $61,751,000 after acquiring an additional 797,142 shares during the last quarter. Finally, Boston Partners grew its holdings 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 acquiring an additional 593,498 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

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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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