Steel Dynamics, Inc. (STLD) Scheduled to Post Quarterly Earnings on Tuesday
Steel Dynamics, Inc. (NASDAQ:STLD) is set to announce its earnings results after the market closes on Tuesday, October 17th. Analysts expect the company to announce earnings of $0.70 per share for the quarter.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the firm posted $0.58 EPS. Steel Dynamics’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, analysts expect Steel Dynamics to post $2.71 EPS for the current fiscal year and $2.91 EPS for the next fiscal year.
Steel Dynamics, Inc. (NASDAQ STLD) opened at 35.51 on Tuesday. The stock has a market capitalization of $8.52 billion, a P/E ratio of 16.31 and a beta of 1.29. The firm’s 50-day moving average is $34.24 and its 200 day moving average is $34.87. Steel Dynamics, Inc. has a 12 month low of $23.34 and a 12 month high of $40.17.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Saturday, September 30th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.75%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.
A number of research firms recently weighed in on STLD. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. Clarkson Capital reaffirmed a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Steel Dynamics in a report on Saturday, July 22nd. Finally, Bank of America Corporation increased their price objective on shares of Steel Dynamics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Steel Dynamics presently has a consensus rating of “Buy” and a consensus price target of $40.63.
In related news, Director Keith E. Busse sold 4,965 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the transaction, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the transaction, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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