Steel Dynamics (NASDAQ:STLD) Releases Q4 2024 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) updated its fourth quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.260-1.300 for the period, compared to the consensus EPS estimate of 1.490. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research analysts have commented on STLD shares. Citigroup cut their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group reaffirmed a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target for the company. BMO Capital Markets lifted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $144.25.

Steel Dynamics Stock Up 0.3 %

Shares of NASDAQ:STLD opened at $115.69 on Friday. The company has a market capitalization of $17.61 billion, a P/E ratio of 10.47 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics has a 52-week low of $104.60 and a 52-week high of $155.56. The stock’s fifty day simple moving average is $136.24 and its 200-day simple moving average is $127.58.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the previous year, the business earned $3.47 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Steel Dynamics will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 in the last three months. 6.00% of the stock is currently owned by company insiders.

About Steel Dynamics

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.