Brokerages predict that Steel Dynamics, Inc. (NASDAQ:STLD) will post $0.97 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Steel Dynamics’ earnings. The lowest EPS estimate is $0.87 and the highest is $1.07. Steel Dynamics posted earnings of $0.82 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 18.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Steel Dynamics will report full-year earnings of $4.14 per share for the current fiscal year, with EPS estimates ranging from $3.76 to $4.55. For the next fiscal year, analysts forecast that the company will post earnings of $4.17 per share, with EPS estimates ranging from $3.33 to $5.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, January 22nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. Steel Dynamics had a net margin of 8.52% and a return on equity of 21.48%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.17 billion.
STLD has been the subject of several recent research reports. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. KeyCorp set a $49.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America set a $51.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Monday, January 8th. Cowen reissued an “outperform” rating and set a $60.00 target price (up from $53.00) on shares of Steel Dynamics in a research note on Wednesday, January 24th. Finally, Longbow Research raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.92.
Steel Dynamics stock traded down $0.59 during mid-day trading on Monday, reaching $42.33. 2,731,178 shares of the company traded hands, compared to its average volume of 3,025,318. Steel Dynamics has a fifty-two week low of $32.15 and a fifty-two week high of $50.70. The firm has a market capitalization of $10,132.18, a price-to-earnings ratio of 12.56, a PEG ratio of 0.87 and a beta of 1.27. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Saturday, March 31st will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, March 28th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.16. Steel Dynamics’s dividend payout ratio is 18.40%.
Several large investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB lifted its position in shares of Steel Dynamics by 4.0% in the 4th quarter. Xact Kapitalforvaltning AB now owns 54,428 shares of the basic materials company’s stock valued at $2,347,000 after acquiring an additional 2,091 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA lifted its position in shares of Steel Dynamics by 2.4% in the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 46,729 shares of the basic materials company’s stock valued at $2,015,000 after acquiring an additional 1,100 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Steel Dynamics by 12.5% in the 4th quarter. William Blair Investment Management LLC now owns 22,750 shares of the basic materials company’s stock valued at $981,000 after acquiring an additional 2,534 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Steel Dynamics by 170.8% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,500 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 4,100 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $6,466,000. Institutional investors and hedge funds own 85.42% of the company’s stock.
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About Steel Dynamics
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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