Q2 2024 Earnings Forecast for Steel Dynamics, Inc. (NASDAQ:STLD) Issued By Seaport Res Ptn

Steel Dynamics, Inc. (NASDAQ:STLD) – Seaport Res Ptn raised their Q2 2024 earnings per share estimates for Steel Dynamics in a report released on Wednesday, April 24th. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will post earnings of $3.97 per share for the quarter, up from their prior estimate of $3.72. The consensus estimate for Steel Dynamics’ current full-year earnings is $11.79 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q1 2025 earnings at $3.35 EPS, Q2 2025 earnings at $3.76 EPS, Q3 2025 earnings at $3.24 EPS, Q4 2025 earnings at $3.07 EPS and FY2025 earnings at $13.41 EPS.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm posted $4.01 earnings per share. Steel Dynamics’s revenue was down 4.1% compared to the same quarter last year.

STLD has been the topic of a number of other reports. Citigroup raised their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets upped their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Finally, UBS Group cut their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $121.17.

Steel Dynamics Trading Up 0.8 %

Shares of NASDAQ:STLD opened at $134.04 on Friday. The stock’s 50-day simple moving average is $137.39 and its two-hundred day simple moving average is $122.28. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 9.21 and a beta of 1.42. Steel Dynamics has a 52-week low of $90.55 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 2.87.

Institutional Trading of Steel Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STLD. LifeSteps Financial Inc. bought a new position in shares of Steel Dynamics during the first quarter valued at approximately $26,000. Verdence Capital Advisors LLC grew its position in Steel Dynamics by 48.9% in the 1st quarter. Verdence Capital Advisors LLC now owns 15,006 shares of the basic materials company’s stock valued at $2,224,000 after acquiring an additional 4,928 shares during the last quarter. Checchi Capital Advisers LLC purchased a new stake in Steel Dynamics in the first quarter worth $243,000. Eudaimonia Partners LLC lifted its position in shares of Steel Dynamics by 118.9% during the first quarter. Eudaimonia Partners LLC now owns 13,749 shares of the basic materials company’s stock worth $2,038,000 after purchasing an additional 7,467 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its stake in shares of Steel Dynamics by 1.4% during the first quarter. Leavell Investment Management Inc. now owns 34,981 shares of the basic materials company’s stock valued at $5,201,000 after purchasing an additional 467 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.37%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Steel Dynamics Company Profile

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.