Steel Dynamics (STLD) Set to Announce Earnings on Wednesday

Steel Dynamics (NASDAQ:STLD) is scheduled to be releasing its earnings data after the market closes on Wednesday, April 17th. Analysts expect Steel Dynamics to post earnings of $3.53 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.37 earnings per share. On average, analysts expect Steel Dynamics to post $12 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Steel Dynamics Trading Up 0.2 %

NASDAQ STLD opened at $140.97 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The firm has a market cap of $22.27 billion, a PE ratio of 9.66 and a beta of 1.42. Steel Dynamics has a one year low of $90.55 and a one year high of $151.34. The firm’s fifty day moving average is $135.07 and its two-hundred day moving average is $120.70.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s payout ratio is 12.61%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Steel Dynamics by 3.0% in the first quarter. BlackRock Inc. now owns 17,595,650 shares of the basic materials company’s stock valued at $1,989,364,000 after acquiring an additional 510,981 shares during the last quarter. State Street Corp increased its holdings in Steel Dynamics by 9.5% in the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $771,198,000 after buying an additional 800,656 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Steel Dynamics by 49.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,452,238 shares of the basic materials company’s stock valued at $407,710,000 after buying an additional 1,138,235 shares during the period. Morgan Stanley grew its holdings in shares of Steel Dynamics by 29.2% in the 4th quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock worth $296,486,000 after purchasing an additional 684,975 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Steel Dynamics by 4.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,952,379 shares of the basic materials company’s stock worth $230,576,000 after purchasing an additional 80,786 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STLD. Citigroup upped their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets upped their price target 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. Finally, UBS Group dropped their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $117.43.

Steel Dynamics Company Profile

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.