News

May 19, 2024

Q3 2023 EPS Estimates for Steel Dynamics, Inc. Cut by Zacks Research (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) - Stock analysts at Zacks Research lowered their Q3 2023 earnings estimates for shares of Steel Dynamics in a report issued on Wednesday, August 2nd.

Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) - Stock analysts at Zacks Research lowered their Q3 2023 earnings estimates for shares of Steel Dynamics in a report issued on Wednesday, August 2nd. Zacks Research analyst A. Barman now anticipates that the basic materials company will post earnings per share of $3.41 for the quarter, down from their prior forecast of $4.45. The consensus estimate for Steel Dynamics' current full-year earnings is $16.13 per share. Zacks Research also issued estimates for Steel Dynamics' Q4 2023 earnings at $2.54 EPS, FY2023 earnings at $15.80 EPS, Q1 2024 earnings at $1.76 EPS, Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $1.50 EPS, FY2024 earnings at $6.70 EPS, Q1 2025 earnings at $1.78 EPS and Q2 2025 earnings at $1.63 EPS.

Several other equities analysts have also recently weighed in on the stock. BNP Paribas cut shares of Steel Dynamics from an "outperform" rating to a "neutral" rating and set a $102.00 target price for the company. in a research note on Wednesday, July 5th. BMO Capital Markets lowered their price objective on shares of Steel Dynamics from $120.00 to $115.00 in a research note on Monday, June 19th. UBS Group reduced their price target on Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th. StockNews.com assumed coverage on Steel Dynamics in a research note on Thursday, May 18th. They issued a "hold" rating on the stock. Finally, Credit Suisse Group lifted their target price on Steel Dynamics from $106.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $108.44.

Shares of NASDAQ:STLD opened at $103.79 on Monday. The company's 50-day moving average price is $103.48 and its two-hundred day moving average price is $108.64. Steel Dynamics has a one year low of $69.12 and a one year high of $136.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.20 and a quick ratio of 2.47. The stock has a market capitalization of $17.54 billion, a PE ratio of 6.05 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Thursday, July 20th. The basic materials company reported $4.81 earnings per share for the quarter, missing analysts' consensus estimates of $4.82 by ($0.01). Steel Dynamics had a return on equity of 40.44% and a net margin of 14.66%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $6.73 earnings per share. The company's revenue was down 18.2% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, June 29th. Steel Dynamics's dividend payout ratio is currently 9.91%.

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,717 shares of Steel Dynamics stock in a transaction on Monday, July 31st. The stock was sold at an average price of $105.80, for a total value of $181,658.60. Following the completion of the transaction, the director now directly owns 83,074 shares of the company's stock, valued at approximately $8,789,229.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.00% of the company's stock.

A number of institutional investors and hedge funds have recently made changes to their positions in STLD. Empirical Finance LLC lifted its holdings in shares of Steel Dynamics by 0.8% in the fourth quarter. Empirical Finance LLC now owns 10,381 shares of the basic materials company's stock worth $1,014,000 after acquiring an additional 82 shares during the last quarter. Wellington Shields & Co. LLC boosted its holdings in shares of Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Security Financial Services INC. raised its position in Steel Dynamics by 2.4% in the first quarter. Security Financial Services INC. now owns 4,416 shares of the basic materials company's stock valued at $499,000 after purchasing an additional 103 shares during the last quarter. Regal Investment Advisors LLC boosted its stake in shares of Steel Dynamics by 2.0% during the fourth quarter. Regal Investment Advisors LLC now owns 5,255 shares of the basic materials company's stock valued at $513,000 after purchasing an additional 104 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Steel Dynamics by 82.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company's stock valued at $26,000 after buying an additional 105 shares during the period. Institutional investors own 83.66% of the company's stock.

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.

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