Steel Dynamics (NASDAQ:STLD) Announces Quarterly Earnings Results

by · The Markets Daily

Steel Dynamics (NASDAQ:STLD – Get Free Report) issued its quarterly earnings data on Wednesday. The basic materials company reported $2.05 EPS for the quarter, beating 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 firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the business posted $3.47 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $135.05 on Friday. The stock has a fifty day simple moving average of $120.44 and a 200-day simple moving average of $127.60. 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 has a twelve month low of $98.25 and a twelve month high of $151.34. The stock has a market cap of $20.84 billion, a PE ratio of 10.83 and a beta of 1.31.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.36%. Steel Dynamics’s dividend payout ratio (DPR) is presently 14.76%.

Wall Street Analyst Weigh In

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

View Our Latest Stock Report on Steel Dynamics

Steel Dynamics Company Profile

(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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