Steel Dynamics (NASDAQ:STLD) Issues Q4 2024 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.260-1.300 for the period, compared to the consensus earnings per share estimate of 1.490. The company issued revenue guidance of -.

Steel Dynamics Price Performance

NASDAQ:STLD traded up $0.40 during trading hours on Friday, reaching $115.69. 4,408,963 shares of the company’s stock were exchanged, compared to its average volume of 1,304,359. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $17.61 billion, a P/E ratio of 10.47 and a beta of 1.31. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The business’s 50-day simple moving average is $136.24 and its two-hundred day simple moving average is $127.58.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.47 EPS. Sell-side analysts expect that Steel Dynamics will post 10.09 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Analysts Set New Price Targets

STLD has been the subject of a number of research analyst reports. Morgan Stanley lowered 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. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group reaffirmed a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and an average target price of $144.25.

Insiders Place Their Bets

In other news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,591 shares of company stock worth $3,885,938. Corporate insiders own 6.00% of the company’s stock.

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.