FY2024 EPS Estimate for Steel Dynamics Lowered by Analyst

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for Steel Dynamics in a research note issued to investors on Sunday, December 15th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings per share of $9.85 for the year, down from their previous estimate of $9.98. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.09 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $2.66 EPS, Q3 2025 earnings at $2.55 EPS, Q4 2025 earnings at $2.43 EPS and FY2025 earnings at $9.24 EPS.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. Steel Dynamics’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.47 earnings per share.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. UBS Group reaffirmed a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $144.25.

Steel Dynamics Trading Down 1.3 %

Steel Dynamics stock opened at $115.29 on Wednesday. Steel Dynamics has a 52-week low of $104.60 and a 52-week high of $155.56. The company has a market cap of $17.55 billion, a P/E ratio of 10.43 and a beta of 1.31. 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 business has a 50-day simple moving average of $136.24 and a two-hundred day simple moving average of $127.58.

Hedge Funds Weigh In On Steel Dynamics

Several hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC increased its stake in shares of Steel Dynamics by 116.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after acquiring an additional 548,086 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Steel Dynamics in the third quarter worth approximately $650,000. Tidal Investments LLC raised its stake in Steel Dynamics by 6.4% in the 3rd quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company’s stock valued at $3,330,000 after purchasing an additional 1,585 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Steel Dynamics during the 3rd quarter worth $25,000. Finally, World Investment Advisors LLC purchased a new stake in shares of Steel Dynamics during the third quarter worth $15,880,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, VP Chad Bickford sold 2,000 shares of Steel Dynamics 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 transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last ninety days. 6.00% of the stock is owned by company insiders.

Steel Dynamics Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.60%. Steel Dynamics’s payout ratio is 16.65%.

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.