Posted by admin on May 19th, 2022

Wall Street brokerages predict that Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) will announce sales of $5.31 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Steel Dynamics’ earnings, with estimates ranging from $4.60 billion to $5.89 billion. Steel Dynamics posted sales of $4.47 billion in the same quarter last year, which suggests a positive year over year growth rate of 18.8%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Steel Dynamics will report full year sales of $21.63 billion for the current fiscal year, with estimates ranging from $17.16 billion to $24.74 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $18.62 billion, with estimates ranging from $14.64 billion to $25.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Steel Dynamics.

Steel Dynamics (NASDAQ:STLD – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.58 by $0.44. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. Steel Dynamics’s revenue was up 57.1% on a year-over-year basis.

STLD has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Steel Dynamics from $100.00 to $114.00 and gave the company a “buy” rating in a report on Friday, April 22nd. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $95.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, March 24th. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating and set a $98.00 price target for the company in a report on Monday, April 4th. StockNews.com began coverage on Steel Dynamics in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, BMO Capital Markets upped their target price on shares of Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Buy” and a consensus target price of $91.00.

NASDAQ:STLD opened at $75.89 on Thursday. Steel Dynamics has a 12-month low of $50.54 and a 12-month high of $100.37. The company’s 50-day moving average is $83.35 and its two-hundred day moving average is $69.92. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 3.93 and a beta of 1.29. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, June 29th. Steel Dynamics’s payout ratio is presently 7.02%.

Steel Dynamics declared that its board has authorized a stock repurchase program on Monday, February 28th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 8.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

In related news, SVP Christopher A. Graham sold 4,425 shares of the firm’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $76.51, for a total value of $338,556.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Venture Visionary Partners LLC increased its position in Steel Dynamics by 1.1% in the first quarter. Venture Visionary Partners LLC now owns 11,840 shares of the basic materials company’s stock worth $987,000 after purchasing an additional 132 shares during the period. Paragon Capital Management Ltd raised its holdings in Steel Dynamics by 3.6% in the first quarter. Paragon Capital Management Ltd now owns 3,932 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 138 shares during the period. First National Bank of South Miami raised its stake in Steel Dynamics by 5.1% during the 4th quarter. First National Bank of South Miami now owns 3,459 shares of the basic materials company’s stock worth $215,000 after buying an additional 168 shares during the period. Greenleaf Trust lifted its holdings in shares of Steel Dynamics by 1.7% during the 3rd quarter. Greenleaf Trust now owns 10,314 shares of the basic materials company’s stock valued at $603,000 after purchasing an additional 171 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its stake in Steel Dynamics by 4.3% in the first quarter. Wetherby Asset Management Inc. now owns 4,204 shares of the basic materials company’s stock valued at $351,000 after buying an additional 174 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

About Steel Dynamics (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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