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Steel Dynamics (NASDAQ:STLD - Get Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $5.33-$5.37 for the period, compared to the consensus EPS estimate of $3.53. The company issued revenue guidance of -. Analyst Ratings Changes
Several equities analysts have weighed in on the stock. UBS Group set a $95.00 target price on shares of Steel Dynamics in a report on Monday, June 20th. JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. Citigroup increased their price target on shares of Steel Dynamics to $110.00 in a research note on Tuesday. Morgan Stanley reduced their target price on shares of Steel Dynamics from $94.00 to $78.00 and set an equal weight rating for the company in a research note on Wednesday, July 6th. Finally, The Goldman Sachs Group downgraded shares of Steel Dynamics from a buy rating to a neutral rating and cut their price target for the company from $114.00 to $92.00 in a report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of Hold and a consensus target price of $93.38.Steel Dynamics Stock Up 2.4 %
Shares of NASDAQ:STLD traded up $1.79 during midday trading on Thursday, reaching $76.34. The company had a trading volume of 39,733 shares, compared to its average volume of 1,618,207. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.52 and a quick ratio of 1.87. The stock's fifty day moving average price is $77.02 and its 200-day moving average price is $78.46. The stock has a market capitalization of $13.94 billion, a P/E ratio of 3.31 and a beta of 1.37. Steel Dynamics has a one year low of $50.54 and a one year high of $100.37.
Steel Dynamics (NASDAQ:STLD - Get Rating) last released its earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.39. Steel Dynamics had a net margin of 19.81% and a return on equity of 71.50%. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the firm earned $3.40 earnings per share. The firm's revenue for the quarter was up 39.1% compared to the same quarter last year. Equities research analysts expect that Steel Dynamics will post 21.33 earnings per share for the current fiscal year. Steel Dynamics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 29th. Steel Dynamics's dividend payout ratio (DPR) is 6.05%. Hedge Funds Weigh In On Steel Dynamics
Hedge funds and other institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new stake in Steel Dynamics in the first quarter worth about $209,000. Atlas Capital Advisors LLC bought a new stake in Steel Dynamics in the second quarter worth about $232,000. XTX Topco Ltd bought a new stake in Steel Dynamics in the first quarter worth about $258,000. Lido Advisors LLC bought a new stake in Steel Dynamics in the first quarter worth about $261,000. Finally, Evercore Wealth Management LLC bought a new stake in Steel Dynamics in the first quarter worth about $341,000. Institutional investors and hedge funds own 80.36% of the company's stock. About Steel Dynamics (Get Rating)
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 roll, cold roll, 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; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.Further ReadingGet a free copy of the StockNews.com research report on Steel Dynamics (STLD)Why Medical Products Maker Repligen May Be A Potential Buy At 10%, Is Arbor Realty Trust Dividend Worth It? Investors Should Tune Into RF Industries 2 Reasons Netflix Might Have Just Bottomed OutMurphy USA Outperforming Other Mid-caps, But Is It A Buy Now?
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