Analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to announce sales of $2.96 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Steel Dynamics’ earnings, with the highest sales estimate coming in at $3.02 billion and the lowest estimate coming in at $2.84 billion. Steel Dynamics posted sales of $2.34 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.5%. The company is expected to announce its next earnings results on Monday, January 28th.

According to Zacks, analysts expect that Steel Dynamics will report full year sales of $11.90 billion for the current fiscal year, with estimates ranging from $11.76 billion to $11.97 billion. For the next fiscal year, analysts expect that the company will post sales of $11.95 billion, with estimates ranging from $11.15 billion to $12.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 17th. The basic materials company reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.04. Steel Dynamics had a net margin of 11.49% and a return on equity of 31.96%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm posted $0.66 EPS. Steel Dynamics’s revenue for the quarter was up 31.9% on a year-over-year basis.

A number of analysts have recently issued reports on STLD shares. Deutsche Bank downgraded shares of Steel Dynamics to a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, September 12th. Bank of America raised their price target on shares of Steel Dynamics from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 price target on shares of Steel Dynamics in a report on Wednesday, July 25th. Finally, Seaport Global Securities started coverage on shares of Steel Dynamics in a report on Thursday, October 11th. They set a “buy” rating and a $55.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. Steel Dynamics presently has a consensus rating of “Buy” and a consensus target price of $53.31.

Shares of NASDAQ STLD traded down $0.79 during trading on Wednesday, reaching $40.28. 1,629,277 shares of the company traded hands, compared to its average volume of 3,306,547. The company has a quick ratio of 2.17, a current ratio of 3.94 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.79 billion, a PE ratio of 8.83, a PEG ratio of 0.62 and a beta of 1.35. Steel Dynamics has a 52-week low of $35.80 and a 52-week high of $52.10.

Steel Dynamics declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 4th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Sunday, September 30th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, September 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.30%.

In other news, insider Christopher A. Graham sold 10,800 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $47.61, for a total value of $514,188.00. Following the transaction, the insider now owns 26,087 shares in the company, valued at approximately $1,242,002.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Steel Dynamics by 3.0% during the 3rd quarter. BlackRock Inc. now owns 23,117,232 shares of the basic materials company’s stock worth $1,044,668,000 after acquiring an additional 679,662 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Steel Dynamics by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,161,241 shares of the basic materials company’s stock valued at $191,211,000 after buying an additional 14,041 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Steel Dynamics by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 3,264,092 shares of the basic materials company’s stock valued at $147,503,000 after buying an additional 72,097 shares during the last quarter. Standard Life Aberdeen plc raised its position in shares of Steel Dynamics by 43.3% during the second quarter. Standard Life Aberdeen plc now owns 2,690,278 shares of the basic materials company’s stock valued at $123,632,000 after buying an additional 812,425 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Steel Dynamics by 2.4% during the second quarter. Northern Trust Corp now owns 2,679,485 shares of the basic materials company’s stock valued at $123,123,000 after buying an additional 63,716 shares during the last quarter. Institutional investors own 83.05% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

Further Reading: Earnings Per Share

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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