Steel Dynamics (NASDAQ:STLD) Announces Quarterly Earnings Results

Steel Dynamics (NASDAQ:STLD) issued its quarterly earnings data on Wednesday. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07, Briefing.com reports. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the company posted $3.47 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock traded up $6.52 on Thursday, reaching $136.38. 349,932 shares of the stock were exchanged, compared to its average volume of 1,253,955. The firm has a market capitalization of $21.04 billion, a PE ratio of 10.41 and a beta of 1.31. Steel Dynamics has a 1-year low of $98.25 and a 1-year high of $151.34. The business has a fifty day moving average price of $120.15 and a two-hundred day moving average price of $127.55. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 14.76%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on STLD shares. Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, BMO Capital Markets raised their price target on Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $142.86.

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.