Steel Dynamics (NASDAQ:STLD) Announces Quarterly Earnings Results

by · The Cerbat Gem

Steel Dynamics (NASDAQ:STLD – Get Free Report) released its quarterly earnings results on Wednesday. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07, Briefing.com reports. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the previous year, the business earned $3.47 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis.

Steel Dynamics Trading Up 1.2 %

NASDAQ STLD traded up $1.67 during trading on Friday, hitting $136.72. 500,050 shares of the company’s stock traded hands, compared to its average volume of 1,262,272. The stock has a fifty day moving average of $120.44 and a two-hundred day moving average of $127.60. Steel Dynamics has a 12-month low of $98.25 and a 12-month high of $151.34. The firm has a market cap of $21.10 billion, a P/E ratio of 10.91 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19.

Steel Dynamics Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley decreased their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price objective on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $143.57.

View Our Latest Stock Report on STLD

About Steel Dynamics

(Get Free Report)

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.

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