FY2024 Earnings Forecast for Steel Dynamics, Inc. Issued By Zacks Research (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at Zacks Research reduced their FY2024 earnings estimates for shares of Steel Dynamics in a research note issued to investors on Thursday, September 19th. Zacks Research analyst M. Agrawal now forecasts that the basic materials company will earn $10.25 per share for the year, down from their previous forecast of $10.60. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.57 per share. Zacks Research also issued estimates for Steel Dynamics’ Q2 2025 earnings at $2.38 EPS, Q3 2025 earnings at $2.27 EPS, FY2025 earnings at $9.41 EPS and FY2026 earnings at $10.79 EPS.

Several other equities research analysts have also issued reports on STLD. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $120.00 to $131.00 in a research note on Monday, September 9th. Morgan Stanley cut their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Bank of America decreased their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets decreased their target price on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average target price of $141.29.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $119.83 on Monday. The company has a market capitalization of $18.83 billion, a P/E ratio of 8.23 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 52-week low of $98.25 and a 52-week high of $151.34. The company has a fifty day moving average of $120.11 and a 200-day moving average of $129.01.

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

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of STLD. Atomi Financial Group Inc. boosted its stake in shares of Steel Dynamics by 3.1% during the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 79 shares in the last quarter. Csenge Advisory Group raised its position in shares of Steel Dynamics by 2.8% in the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares in the last quarter. Greenfield Savings Bank lifted its stake in shares of Steel Dynamics by 0.7% in the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after purchasing an additional 85 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Steel Dynamics by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 88 shares in the last quarter. Finally, Dorsey Wright & Associates grew its stake in Steel Dynamics by 0.4% in the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Dividend Announcement

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