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Steel Dynamics (NASDAQ:STLD - Get Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $5.33-$5.37 for the period, compared to the consensus earnings per share estimate of $3.53. The company issued revenue guidance of -. Steel Dynamics Stock Performance

Steel Dynamics stock opened at $74.20 on Thursday. The firm's fifty day moving average price is $77.96 and its 200-day moving average price is $78.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.87 and a current ratio of 3.52. The stock has a market cap of $13.55 billion, a P/E ratio of 3.30 and a beta of 1.37. Steel Dynamics has a fifty-two week low of $50.54 and a fifty-two week high of $100.37.

Steel Dynamics (NASDAQ:STLD - Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.34 by $0.39. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.93 billion. Steel Dynamics had a net margin of 19.81% and a return on equity of 71.50%. The company's revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.40 EPS. On average, equities research analysts expect that Steel Dynamics will post 21.33 earnings per share for the current fiscal year. Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.36 dividend on an annualized basis and a yield of 1.83%. Steel Dynamics's dividend payout ratio (DPR) is currently 6.05%. Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STLD shares. JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. UBS Group set a $95.00 target price on shares of Steel Dynamics in a report on Monday, June 20th. Morgan Stanley decreased 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 report on Wednesday, July 6th. The Goldman Sachs Group cut shares of Steel Dynamics from a buy rating to a neutral rating and decreased their target price for the stock from $114.00 to $92.00 in a report on Tuesday, May 31st. Finally, Citigroup lifted their target price on shares of Steel Dynamics to $110.00 in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of Hold and a consensus target price of $92.71.Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Prudential PLC purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $546,000. Engineers Gate Manager LP bought a new stake in Steel Dynamics during the first quarter valued at approximately $543,000. Blair William & Co. IL grew its position in Steel Dynamics by 20.5% during the first quarter. Blair William & Co. IL now owns 5,852 shares of the basic materials company's stock valued at $488,000 after buying an additional 996 shares during the period. Cetera Advisor Networks LLC grew its position in Steel Dynamics by 43.5% during the first quarter. Cetera Advisor Networks LLC now owns 5,510 shares of the basic materials company's stock valued at $460,000 after buying an additional 1,670 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in Steel Dynamics during the first quarter valued at approximately $451,000. 80.36% of the stock is owned by hedge funds and other institutional investors. 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)The Worst May be Over for Target, But is the Stock Safe to Buy?Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?Two Fun Stocks The Insiders Are Buying Novavax Remains a Risk-On Stock in a Risk-Off Market3 Defensive Stocks With 60-Year Dividend Hike Streaks

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