Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) - Equities researchers at Seaport Res Ptn upped their Q2 2024 earnings per share (EPS) estimates for shares of Steel Dynamics in a report issued on Wednesday, April 24th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings of $3.97 per share for the quarter, up from their previous forecast of $3.72. The consensus estimate for Steel Dynamics' current full-year earnings is $11.79 per share. Seaport Res Ptn also issued estimates for Steel Dynamics' Q1 2025 earnings at $3.35 EPS, Q2 2025 earnings at $3.76 EPS, Q3 2025 earnings at $3.24 EPS, Q4 2025 earnings at $3.07 EPS and FY2025 earnings at $13.41 EPS.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm earned $4.01 EPS. Steel Dynamics's revenue for the quarter was down 4.1% compared to the same quarter last year.
STLD has been the topic of several other research reports. BMO Capital Markets lifted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a report on Monday, March 18th. Citigroup boosted their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a research note on Tuesday, April 16th. Finally, UBS Group decreased their price target on Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of "Hold" and a consensus target price of $121.17.
Check Out Our Latest Report on Steel Dynamics
Steel Dynamics Stock Performance
Shares of NASDAQ:STLD traded up $1.01 during trading on Friday, hitting $134.04. 1,053,963 shares of the stock were exchanged, compared to its average volume of 1,200,926. Steel Dynamics has a 1-year low of $90.55 and a 1-year high of $151.34. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of 9.21 and a beta of 1.42. The company's fifty day simple moving average is $137.39 and its 200-day simple moving average is $122.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 2.87.
Steel Dynamics Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's payout ratio is currently 12.64%.
Hedge Funds Weigh In On Steel Dynamics
A number of institutional investors and hedge funds have recently bought and sold shares of the business. LifeSteps Financial Inc. bought a new stake in shares of Steel Dynamics during the first quarter worth $26,000. CVA Family Office LLC bought a new stake in shares of Steel Dynamics during the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the fourth quarter worth $29,000. Lindbrook Capital LLC raised its position in shares of Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company's stock worth $29,000 after acquiring an additional 134 shares during the last quarter. Finally, Security National Bank bought a new stake in shares of Steel Dynamics during the fourth quarter worth $30,000. Institutional investors and hedge funds own 82.41% of the company's stock.
Steel Dynamics Company Profile
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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.
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