Analysts Set Expectations for Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for Steel Dynamics in a research note issued to investors on Sunday, December 15th. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will earn $9.85 per share for the year, down from their prior estimate of $9.98. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.09 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $2.66 EPS, Q3 2025 earnings at $2.55 EPS, Q4 2025 earnings at $2.43 EPS and FY2025 earnings at $9.24 EPS.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the firm earned $3.47 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis.

Several other research firms have also recently issued reports on STLD. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Morgan Stanley lowered their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock 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 lifted their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $146.13.

Steel Dynamics Stock Down 2.6 %

Shares of Steel Dynamics stock opened at $118.58 on Wednesday. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56. The company has a market cap of $18.05 billion, a P/E ratio of 10.73 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The firm has a fifty day moving average of $136.78 and a two-hundred day moving average of $127.75.

Institutional Trading of Steel Dynamics

Institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its holdings in shares of Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the period. Oddo BHF Asset Management Sas acquired a new position in Steel Dynamics during the third quarter valued at approximately $650,000. Tidal Investments LLC grew its stake in Steel Dynamics by 6.4% during the third quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company’s stock worth $3,330,000 after buying an additional 1,585 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics in the third quarter worth $25,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Steel Dynamics in the third quarter worth $15,880,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock worth $3,885,938 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.55%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

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.