Steel Dynamics (STLD) Updates Q4 Earnings Guidance

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Steel Dynamics (NASDAQ:STLD) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.25-1.29 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.37.

Shares of Steel Dynamics stock opened at $31.39 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.94 and a quick ratio of 2.17. The stock has a market cap of $7.39 billion, a PE ratio of 11.85, a P/E/G ratio of 0.48 and a beta of 1.34. Steel Dynamics has a one year low of $30.62 and a one year high of $52.10.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 17th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.04. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.14 billion. Steel Dynamics had a return on equity of 31.96% and a net margin of 11.49%. The firm’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. On average, sell-side analysts predict that Steel Dynamics will post 5.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Monday, December 31st will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Friday, December 28th. Steel Dynamics’s dividend payout ratio is currently 28.30%.

Steel Dynamics announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 4th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Several research firms have recently commented on STLD. BidaskClub cut Steel Dynamics from a sell rating to a strong sell rating in a research note on Wednesday, November 28th. Zacks Investment Research upgraded Steel Dynamics from a hold rating to a buy rating and set a $52.00 price target for the company in a research note on Wednesday, September 12th. Seaport Global Securities began coverage on Steel Dynamics in a research note on Thursday, October 11th. They set a buy rating and a $55.00 price target for the company. ValuEngine cut Steel Dynamics from a sell rating to a strong sell rating in a research note on Tuesday, November 27th. Finally, Deutsche Bank cut Steel Dynamics to a buy rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $52.46.

In related news, insider Christopher A. Graham sold 10,800 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $47.61, for a total transaction of $514,188.00. Following the sale, the insider now owns 26,087 shares of the company’s stock, valued at $1,242,002.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard P. Teets, Jr. acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average cost of $33.85 per share, for a total transaction of $677,000.00. Following the purchase, the director now owns 5,022,779 shares of the company’s stock, valued at $170,021,069.15. The disclosure for this purchase can be found here. 4.40% of the stock is currently owned by corporate insiders.

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Steel Dynamics Company Profile

Steel Dynamics, Inc is a diversified carbon-steel steel producer and metals recycler in the U.S. It produces a wide array of steel – beams, bars, steel sheet, and more. It operates through the following segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Others.

Read More: Earnings Per Share

Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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