Steel Dynamics, Inc. (NASDAQ:STLD) Announces Earnings Results, Meets Estimates

Steel Dynamics, Inc. (NASDAQ:STLD) announced its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66, Bloomberg Earnings reports. Steel Dynamics had a return on equity of 19.88% and a net margin of 6.18%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue was up 16.3% on a year-over-year basis.

Shares of Steel Dynamics (NASDAQ STLD) traded down 0.57% during trading on Friday, reaching $38.67. The company had a trading volume of 2,189,566 shares. The stock’s 50-day moving average price is $35.21 and its 200-day moving average price is $35.10. The stock has a market capitalization of $9.28 billion, a PE ratio of 17.76 and a beta of 1.29. Steel Dynamics has a 12 month low of $26.29 and a 12 month high of $40.17.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Saturday, September 30th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.62 annualized dividend and a yield of 1.60%. Steel Dynamics’s dividend payout ratio is presently 28.57%.

Several research analysts have weighed in on STLD shares. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, July 18th. Cowen and Company reiterated a “buy” rating and issued a $44.00 target price on shares of Steel Dynamics in a research note on Wednesday, July 19th. Finally, Bank of America Corporation lifted their target price on Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Steel Dynamics has a consensus rating of “Buy” and a consensus target price of $41.09.

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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.

Earnings History for Steel Dynamics (NASDAQ:STLD)

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