$2.27 Billion in Sales Expected for Steel Dynamics, Inc. (NASDAQ:STLD) This Quarter

Analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to report $2.27 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Steel Dynamics’ earnings, with the lowest sales estimate coming in at $2.16 billion and the highest estimate coming in at $2.37 billion. Steel Dynamics posted sales of $2.90 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 21.7%. The firm is expected to report its next earnings results on Tuesday, January 28th.

According to Zacks, analysts expect that Steel Dynamics will report full year sales of $10.38 billion for the current fiscal year, with estimates ranging from $10.28 billion to $10.48 billion. For the next year, analysts expect that the business will post sales of $9.92 billion, with estimates ranging from $9.76 billion to $10.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Steel Dynamics had a return on equity of 22.08% and a net margin of 7.44%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the firm earned $1.69 EPS.

Several analysts have recently weighed in on the stock. BNP Paribas started coverage on shares of Steel Dynamics in a report on Thursday, November 14th. They issued an “outperform” rating and a $40.00 target price on the stock. Longbow Research cut Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Monday, August 26th. Zacks Investment Research raised Steel Dynamics from a “strong sell” rating to a “hold” rating and set a $25.00 price objective on the stock in a report on Wednesday, October 23rd. ValuEngine upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Bank of America reduced their price objective on shares of Steel Dynamics from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $33.17.

In related news, SVP Miguel Alvarez purchased 8,920 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $27.72 per share, with a total value of $247,262.40. Following the completion of the acquisition, the senior vice president now directly owns 700 shares in the company, valued at approximately $19,404. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Boston Partners increased its holdings in shares of Steel Dynamics by 130,791.2% in the 3rd quarter. Boston Partners now owns 2,782,747 shares of the basic materials company’s stock valued at $82,944,000 after acquiring an additional 2,780,621 shares during the last quarter. Eaton Vance Management boosted its holdings in Steel Dynamics by 466.8% during the second quarter. Eaton Vance Management now owns 1,940,465 shares of the basic materials company’s stock worth $58,602,000 after buying an additional 1,598,122 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Steel Dynamics by 463.3% in the second quarter. Renaissance Technologies LLC now owns 1,891,700 shares of the basic materials company’s stock valued at $57,129,000 after buying an additional 1,555,900 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Steel Dynamics in the second quarter valued at $35,753,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of Steel Dynamics by 120.9% in the second quarter. Nuveen Asset Management LLC now owns 1,889,404 shares of the basic materials company’s stock valued at $57,060,000 after buying an additional 1,034,176 shares in the last quarter. 79.60% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics stock traded up $0.53 during mid-day trading on Friday, reaching $34.29. 32,427 shares of the company were exchanged, compared to its average volume of 1,769,158. The firm has a market cap of $7.27 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.24 and a current ratio of 4.00. Steel Dynamics has a twelve month low of $25.02 and a twelve month high of $39.35. The firm’s 50-day simple moving average is $31.43 and its two-hundred day simple moving average is $29.54.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, December 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

About Steel Dynamics

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

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