Steel Dynamics (STLD) Set to Announce Earnings on Tuesday

Steel Dynamics (NASDAQ:STLD) will be posting its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Steel Dynamics to post earnings of $3.53 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company earned $4.37 EPS. The business’s revenue was down 12.3% compared to the same quarter last year. On average, analysts expect Steel Dynamics to post $12 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $140.97 on Tuesday. Steel Dynamics has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of 9.66 and a beta of 1.42. The company has a fifty day moving average price of $135.07 and a 200-day moving average price of $120.70.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 annualized dividend and a yield of 1.31%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is presently 12.61%.

Hedge Funds Weigh In On Steel Dynamics

A number of hedge funds have recently modified their holdings of the company. Wellington Shields & Co. LLC increased its position in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after buying an additional 100 shares during the period. Clearstead Advisors LLC purchased a new position in shares of Steel Dynamics during the third quarter valued at about $35,000. Clear Street Markets LLC increased its position in shares of Steel Dynamics by 94.0% during the first quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock valued at $37,000 after buying an additional 158 shares during the period. Providence Capital Advisors LLC increased its position in shares of Steel Dynamics by 11,205.0% during the first quarter. Providence Capital Advisors LLC now owns 4,522 shares of the basic materials company’s stock valued at $40,000 after buying an additional 4,482 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of Steel Dynamics during the second quarter valued at about $40,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on STLD shares. Citigroup upped their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. UBS Group dropped their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, BMO Capital Markets boosted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $117.43.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.