Steel Dynamics (NASDAQ:STLD) Announces Earnings Results

Steel Dynamics (NASDAQ:STLD - Get Free Report) posted its quarterly earnings data on Tuesday. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.54 by $0.13, Briefing.com reports. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.01 earnings per share.

Steel Dynamics Price Performance

NASDAQ STLD traded down $4.24 during trading hours on Wednesday, reaching $129.92. The company's stock had a trading volume of 2,557,025 shares, compared to its average volume of 1,199,661. The firm's 50-day moving average price is $136.80 and its 200-day moving average price is $121.97. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. 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 $20.52 billion, a price-to-earnings ratio of 8.90 and a beta of 1.42.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a dividend of $0.46 per share. This is a boost from Steel Dynamics's previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics's payout ratio is presently 12.61%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on STLD shares. BMO Capital Markets raised their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a "market perform" rating in a report on Monday, March 18th. UBS Group reduced their price target on Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a report on Wednesday, January 24th. Citigroup raised their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $121.17.

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.