Steel Dynamics (NASDAQ:STLD) Releases Earnings Results, Beats Estimates By $0.07 EPS

Steel Dynamics (NASDAQ:STLD) issued its quarterly earnings data on Wednesday. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07, Briefing.com reports. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 EPS.

Steel Dynamics Price Performance

Shares of STLD opened at $135.05 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock has a market capitalization of $20.84 billion, a PE ratio of 10.83 and a beta of 1.31. The company has a 50 day moving average price of $120.44 and a 200-day moving average price of $127.60. Steel Dynamics has a fifty-two week low of $98.25 and a fifty-two week high of $151.34.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s payout ratio is presently 14.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Morgan Stanley reduced their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $142.86.

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.