Steel Dynamics, Inc. (NASDAQ:STLD) Expected to Post Earnings of $0.58 Per Share

Wall Street brokerages expect Steel Dynamics, Inc. (NASDAQ:STLD) to post $0.58 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Steel Dynamics’ earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.60. Steel Dynamics posted earnings per share of $1.31 in the same quarter last year, which would suggest a negative year-over-year growth rate of 55.7%. The firm is expected to issue its next quarterly earnings report on Tuesday, January 28th.

According to Zacks, analysts expect that Steel Dynamics will report full-year earnings of $3.05 per share for the current year, with EPS estimates ranging from $3.03 to $3.08. For the next year, analysts expect that the firm will post earnings of $2.67 per share, with EPS estimates ranging from $2.35 to $3.16. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.01). The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.62 billion. Steel Dynamics had a net margin of 7.44% and a return on equity of 22.08%. During the same quarter in the previous year, the firm earned $1.69 earnings per share.

A number of research firms have issued reports on STLD. Longbow Research cut Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. Zacks Investment Research upgraded shares of Steel Dynamics from a “strong sell” rating to a “hold” rating and set a $25.00 price target for the company in a research report on Wednesday, October 23rd. BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. set a $35.00 price objective on shares of Steel Dynamics and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Bank of America reduced their target price on shares of Steel Dynamics from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $33.17.

Shares of NASDAQ STLD traded up $0.53 during mid-day trading on Friday, hitting $34.29. The company had a trading volume of 32,427 shares, compared to its average volume of 1,769,158. Steel Dynamics has a 12 month low of $25.02 and a 12 month high of $39.35. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 0.92 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.00 and a quick ratio of 2.24. The firm’s 50 day simple moving average is $31.43 and its two-hundred day simple moving average is $29.54.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 30th. Steel Dynamics’s payout ratio is currently 17.49%.

In related news, SVP Miguel Alvarez bought 8,920 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $27.72 per share, for a total transaction of $247,262.40. Following the transaction, the senior vice president now directly owns 700 shares of the company’s stock, valued at approximately $19,404. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. lifted its position in shares of Steel Dynamics by 12.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 256,517 shares of the basic materials company’s stock valued at $9,048,000 after acquiring an additional 28,050 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Steel Dynamics by 3.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 45,020 shares of the basic materials company’s stock worth $1,360,000 after purchasing an additional 1,500 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Steel Dynamics by 18.2% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 160,586 shares of the basic materials company’s stock valued at $4,850,000 after purchasing an additional 24,712 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Steel Dynamics by 5.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 566,562 shares of the basic materials company’s stock valued at $17,111,000 after purchasing an additional 27,165 shares during the period. Finally, FDx Advisors Inc. grew its holdings in Steel Dynamics by 52.1% in the 2nd quarter. FDx Advisors Inc. now owns 21,866 shares of the basic materials company’s stock valued at $660,000 after buying an additional 7,490 shares during the last quarter. Institutional investors own 79.60% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. 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; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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