Q3 2024 EPS Estimates for Steel Dynamics, Inc. (NASDAQ:STLD) Raised by Seaport Res Ptn

Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at Seaport Res Ptn upped their Q3 2024 earnings per share estimates for shares of Steel Dynamics in a research note issued on Monday, September 16th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings per share of $1.98 for the quarter, up from their previous estimate of $1.95. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.57 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q4 2024 earnings at $1.61 EPS and FY2024 earnings at $9.97 EPS.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Bank of America decreased their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets decreased their target price on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and an average target price of $141.29.

Steel Dynamics Stock Down 0.2 %

Shares of NASDAQ:STLD opened at $119.83 on Thursday. Steel Dynamics has a 52-week low of $98.25 and a 52-week high of $151.34. The firm has a market capitalization of $18.49 billion, a P/E ratio of 8.23 and a beta of 1.32. The stock has a 50 day moving average price of $120.30 and a 200-day moving average price of $129.08. 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 (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the business posted $4.81 EPS. The business’s revenue was down 8.8% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STLD. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth $25,000. LifeSteps Financial Inc. purchased a new position in shares of Steel Dynamics in the first quarter worth $26,000. Security National Bank purchased a new position in shares of Steel Dynamics in the fourth quarter worth $30,000. Innealta Capital LLC purchased a new position in shares of Steel Dynamics in the second quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Steel Dynamics in the second quarter worth $41,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) 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.