Steel Dynamics (NASDAQ:STLD) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

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

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $133.03 on Friday. The stock has a market cap of $21.01 billion, a PE ratio of 9.14 and a beta of 1.42. The company’s fifty day moving average is $137.00 and its 200 day moving average is $122.03. Steel Dynamics has a 52 week low of $90.55 and a 52 week high of $151.34. The company has a quick ratio of 1.67, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Analysts Set New Price Targets

Several analysts have recently weighed in on STLD shares. Citigroup raised their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. UBS Group lowered their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets raised their price objective on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average target price of $121.17.

Check Out Our Latest Analysis on Steel Dynamics

About Steel Dynamics

(Get Free Report)

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.

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Earnings History for Steel Dynamics (NASDAQ:STLD)

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