Posted by admin on Jun 9th, 2022
Equities research analysts expect Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) to announce $6.13 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Steel Dynamics’ earnings, with estimates ranging from $5.84 billion to $6.67 billion. Steel Dynamics reported sales of $4.47 billion during the same quarter last year, which would suggest a positive year over year growth rate of 37.1%. The company is expected to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Steel Dynamics will report full-year sales of $23.72 billion for the current financial year, with estimates ranging from $22.00 billion to $24.74 billion. For the next year, analysts expect that the company will post sales of $19.95 billion, with estimates ranging from $16.13 billion to $25.29 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Steel Dynamics.
Steel Dynamics (NASDAQ:STLD – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.58 by $0.44. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the firm posted $2.10 EPS. The business’s revenue for the quarter was up 57.1% on a year-over-year basis.
A number of analysts recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. StockNews.com began coverage on shares of Steel Dynamics in a research report on Thursday, March 31st. They set a “buy” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $95.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. Zacks Investment Research cut shares of Steel Dynamics from a “strong-buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research report on Tuesday, May 24th. Finally, The Goldman Sachs Group cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $114.00 to $92.00 in a research report on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $86.25.
In other news, Director Keith E. Busse sold 5,040 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $83.51, for a total transaction of $420,890.40. Following the transaction, the director now owns 724,034 shares of the company’s stock, valued at $60,464,079.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in shares of Steel Dynamics by 19.4% in the third quarter. Millennium Management LLC now owns 1,907,985 shares of the basic materials company’s stock valued at $111,579,000 after purchasing an additional 310,252 shares during the period. Centiva Capital LP increased its stake in shares of Steel Dynamics by 325.0% in the third quarter. Centiva Capital LP now owns 22,089 shares of the basic materials company’s stock valued at $1,292,000 after purchasing an additional 16,892 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Steel Dynamics by 20.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 88,042 shares of the basic materials company’s stock valued at $5,494,000 after purchasing an additional 15,044 shares during the period. Leavell Investment Management Inc. increased its stake in shares of Steel Dynamics by 9.9% in the fourth quarter. Leavell Investment Management Inc. now owns 30,120 shares of the basic materials company’s stock valued at $1,877,000 after purchasing an additional 2,710 shares during the period. Finally, IFM Investors Pty Ltd increased its stake in shares of Steel Dynamics by 5.5% in the fourth quarter. IFM Investors Pty Ltd now owns 33,535 shares of the basic materials company’s stock valued at $2,082,000 after purchasing an additional 1,762 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Shares of Steel Dynamics stock opened at $81.35 on Thursday. The company has a fifty day moving average price of $83.54 and a 200 day moving average price of $71.80. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45. Steel Dynamics has a twelve month low of $50.54 and a twelve month high of $100.37. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 4.20 and a beta of 1.30.
Steel Dynamics declared that its Board of Directors has approved a stock repurchase program on Monday, February 28th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 8.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.67%. Steel Dynamics’s payout ratio is 7.02%.
Steel Dynamics Company Profile (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.
Get a free copy of the Zacks research report on Steel Dynamics (STLD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.
Kforce Inc. (NASDAQ:KFRC) Expected to Announce Quarterly Sales of $440.48 Million
$10.11 Million in Sales Expected for Epizyme, Inc. (NASDAQ:EPZM) This Quarter