Steel Dynamics (NASDAQ:STLD) Issues Q3 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.94-1.98 for the period, compared to the consensus estimate of $2.09.

Steel Dynamics Trading Down 1.6 %

Shares of NASDAQ STLD traded down $1.83 during mid-day trading on Monday, hitting $111.01. The stock had a trading volume of 1,441,044 shares, compared to its average volume of 1,238,647. The business has a 50 day moving average price of $121.20 and a two-hundred day moving average price of $129.54. The firm has a market cap of $17.44 billion, a P/E ratio of 7.75 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics has a 1 year low of $95.53 and a 1 year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the firm earned $4.81 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis. On average, equities analysts anticipate that Steel Dynamics will post 10.81 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.66%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Analyst Ratings Changes

Several brokerages have recently issued reports on STLD. Morgan Stanley boosted their price target on shares of Steel Dynamics from $134.00 to $138.00 and gave the company an equal weight rating in a report on Thursday, August 15th. UBS Group upgraded Steel Dynamics from a neutral rating to a buy rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America lowered their price target on Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an underweight rating to a neutral rating and increased their price target for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Finally, BMO Capital Markets reduced their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a market perform rating on the stock in a research note on Tuesday, June 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $143.43.

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.