Steel Dynamics (NASDAQ:STLD) Posts Earnings Results, Beats Estimates By $0.13 EPS

Steel Dynamics (NASDAQ:STLD) posted its quarterly earnings results on Tuesday. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13, Briefing.com reports. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company posted $4.01 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis.

Steel Dynamics Trading Down 1.6 %

Shares of STLD stock traded down $2.16 during trading hours on Wednesday, hitting $132.00. 703,073 shares of the company were exchanged, compared to its average volume of 1,174,637. The firm has a market cap of $20.85 billion, a PE ratio of 9.57 and a beta of 1.42. Steel Dynamics has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $136.80 and a 200 day moving average of $121.97.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.61%.

Analyst Upgrades and Downgrades

Several research firms recently commented on STLD. Citigroup boosted their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. UBS Group decreased their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $121.17.

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.