Steel Dynamics (NASDAQ:STLD) Issues Q3 Earnings Guidance

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Steel Dynamics (NASDAQ:STLD) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.66-0.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.72.

A number of research analysts recently weighed in on the stock. Bank of America decreased their target price on shares of Steel Dynamics from $34.00 to $30.00 and set a neutral rating for the company in a research report on Wednesday, September 4th. Credit Suisse Group downgraded shares of Steel Dynamics from an outperform rating to a neutral rating and decreased their target price for the company from $38.00 to $29.00 in a research report on Thursday, May 23rd. Goldman Sachs Group decreased their target price on shares of Steel Dynamics from $44.00 to $36.00 and set a buy rating for the company in a research report on Tuesday, June 4th. Deutsche Bank reaffirmed a hold rating on shares of Steel Dynamics in a research report on Thursday, June 27th. Finally, Citigroup set a $34.00 target price on shares of Steel Dynamics and gave the company a buy rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Steel Dynamics presently has an average rating of Hold and an average target price of $37.27.

Shares of STLD opened at $30.67 on Friday. The firm has a 50-day moving average of $28.44 and a 200-day moving average of $30.79. Steel Dynamics has a one year low of $25.02 and a one year high of $48.17. The company has a market cap of $6.80 billion, a PE ratio of 5.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.35 and a quick ratio of 2.40.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business earned $1.53 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Analysts expect that Steel Dynamics will post 3.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, September 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

In other news, SVP Miguel Alvarez acquired 8,920 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $27.72 per share, with a total value of $247,262.40. Following the transaction, the senior vice president now directly owns 700 shares in the company, valued at approximately $19,404. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.90% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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

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