Analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to announce $2.50 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Steel Dynamics' earnings. The lowest sales estimate is $2.38 billion and the highest is $2.62 billion. Steel Dynamics reported sales of $2.37 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The company is expected to issue its next earnings report after the market closes on Monday, January 25th.
On average, analysts expect that Steel Dynamics will report full year sales of $9.53 billion for the current financial year, with estimates ranging from $9.38 billion to $9.62 billion. For the next financial year, analysts expect that the business will post sales of $10.49 billion, with estimates ranging from $9.03 billion to $11.85 billion. Zacks' sales averages are a mean average based on a survey of sell-side analysts that cover Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, October 19th. The basic materials company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.04. Steel Dynamics had a return on equity of 13.40% and a net margin of 5.17%. The firm had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business's revenue for the quarter was down 7.8% compared to the same quarter last year.
A number of analysts recently issued reports on the company. Morgan Stanley assumed coverage on Steel Dynamics in a research note on Wednesday, December 9th. They set an "overweight" rating and a $45.00 price objective on the stock. BMO Capital Markets boosted their price objective on Steel Dynamics from $32.00 to $35.00 and gave the company a "market perform" rating in a research note on Wednesday, October 21st. Finally, Credit Suisse Group boosted their price objective on Steel Dynamics from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Steel Dynamics presently has a consensus rating of "Buy" and a consensus target price of $31.38.
NASDAQ:STLD opened at $40.38 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.20 and a current ratio of 3.60. Steel Dynamics has a 52-week low of $14.98 and a 52-week high of $42.10. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.18 and a beta of 1.42. The business's fifty day moving average is $37.94 and its 200 day moving average is $32.17.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.48%. Steel Dynamics's dividend payout ratio is currently 32.26%.
A number of hedge funds and other institutional investors have recently made changes to their positions in STLD. CI Investments Inc. bought a new position in Steel Dynamics in the 3rd quarter worth about $58,000. Anderson Fisher LLC bought a new position in shares of Steel Dynamics during the 3rd quarter valued at about $77,000. CENTRAL TRUST Co increased its position in shares of Steel Dynamics by 3,586.2% during the 3rd quarter. CENTRAL TRUST Co now owns 3,207 shares of the basic materials company's stock valued at $92,000 after purchasing an additional 3,120 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Steel Dynamics during the 2nd quarter valued at about $103,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Steel Dynamics during the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 81.42% of the company's stock.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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