Steel Dynamics (STLD) to Release Quarterly Earnings on Wednesday

Steel Dynamics (NASDAQ:STLD) will announce its earnings results before the market opens on Wednesday, October 16th. Analysts expect the company to announce earnings of $1.98 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Steel Dynamics (NASDAQ:STLD) last announced 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 net margin of 11.10% and a return on equity of 22.89%. 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 prior year, the company posted $4.81 EPS. The business’s revenue was down 8.8% on a year-over-year basis. On average, analysts expect Steel Dynamics to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Steel Dynamics Trading Up 1.1 %

Shares of STLD stock opened at $129.86 on Monday. Steel Dynamics has a 52-week low of $98.25 and a 52-week high of $151.34. The stock has a market cap of $20.04 billion, a price-to-earnings ratio of 10.41 and a beta of 1.31. 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 firm has a fifty day moving average of $119.64 and a 200-day moving average of $127.80.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio is 14.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on STLD shares. BMO Capital Markets increased their target price on shares of Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. UBS Group upgraded shares of 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 dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $142.86.

About Steel Dynamics

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.