Steel Dynamics (NASDAQ:STLD) Issues Q3 Earnings Guidance

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

Wall Street Analysts Forecast Growth

STLD has been the topic of several research analyst reports. UBS Group upgraded shares of Steel Dynamics from a neutral rating to a buy rating and boosted their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an underweight rating to a neutral rating and boosted their price target for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Jefferies Financial Group started coverage on Steel Dynamics in a research report on Monday, May 20th. They issued a hold rating and a $150.00 price target for the company. Bank of America decreased their price objective on Steel Dynamics from $150.00 to $145.00 and set a neutral rating on the stock in a research report on Wednesday, June 26th. Finally, BMO Capital Markets lowered their price objective on Steel Dynamics from $140.00 to $135.00 and set a market perform rating for the company in a research note on Tuesday, June 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $143.43.

Steel Dynamics Trading Down 1.6 %

NASDAQ STLD traded down $1.83 during 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 company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock has a 50 day simple moving average of $121.20 and a 200 day simple moving average of $129.54. Steel Dynamics has a one year low of $95.53 and a one year high of $151.34. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 7.75 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the business earned $4.81 EPS. Steel Dynamics’s revenue was down 8.8% compared to the same quarter last year. Sell-side analysts predict that Steel Dynamics will post 10.81 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, September 30th. 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.