Steel Dynamics (NASDAQ:STLD) Releases Q4 2024 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.260-1.300 for the period, compared to the consensus EPS estimate of 1.490. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of research firms recently weighed in on STLD. UBS Group reaffirmed a “neutral” rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Morgan Stanley decreased their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $144.25.

Steel Dynamics Stock Up 0.3 %

NASDAQ:STLD traded up $0.40 during trading hours on Friday, hitting $115.69. The company’s stock had a trading volume of 4,408,963 shares, compared to its average volume of 1,304,359. The stock has a fifty day moving average of $136.24 and a 200-day moving average of $127.58. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $17.61 billion, a P/E ratio of 10.47 and a beta of 1.31. Steel Dynamics has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $3.47 earnings per share. On average, equities analysts forecast that Steel Dynamics will post 10.09 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock valued at $3,885,938 in the last quarter. Company insiders own 6.00% of the company’s stock.

About Steel Dynamics

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.