Equities analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to post sales of $3.00 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Steel Dynamics’ earnings. The lowest sales estimate is $2.93 billion and the highest is $3.10 billion. Steel Dynamics posted sales of $3.09 billion during the same quarter last year, which would indicate a negative year over year growth rate of 2.9%. The business is scheduled to announce its next earnings results on Monday, July 22nd.
On average, analysts expect that Steel Dynamics will report full year sales of $11.63 billion for the current financial year, with estimates ranging from $11.44 billion to $12.02 billion. For the next fiscal year, analysts forecast that the business will report sales of $11.51 billion, with estimates ranging from $10.96 billion to $12.40 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.91. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the company earned $0.96 EPS. The company’s revenue was up 8.2% on a year-over-year basis.
STLD has been the topic of a number of research analyst reports. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $35.50 to $47.00 in a report on Wednesday. Goldman Sachs Group set a $44.00 target price on Steel Dynamics and gave the company a “buy” rating in a report on Tuesday, April 23rd. Citigroup set a $40.00 target price on Steel Dynamics and gave the company a “buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $47.64.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STLD. Parallel Advisors LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at $27,000. Ffcm LLC boosted its holdings in shares of Steel Dynamics by 59.3% during the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 344 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Steel Dynamics by 36.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 300 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Steel Dynamics by 183.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 729 shares in the last quarter. Finally, JOYN Advisors Inc. boosted its holdings in shares of Steel Dynamics by 34.7% during the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.
Shares of STLD stock opened at $32.62 on Thursday. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 5.94, a price-to-earnings-growth ratio of 0.73 and a beta of 1.31. Steel Dynamics has a fifty-two week low of $28.91 and a fifty-two week high of $52.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 4.02.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Sunday, March 31st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, March 29th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.19. Steel Dynamics’s dividend payout ratio (DPR) is currently 17.49%.
About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. 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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