Zacks: Brokerages Anticipate Steel Dynamics, Inc. (STLD) to Post $0.66 Earnings Per Share

Brokerages forecast that Steel Dynamics, Inc. (NASDAQ:STLD) will announce $0.68 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Steel Dynamics’ earnings, with estimates ranging from $0.66 to $0.75. Steel Dynamics reported earnings of $0.65 per share in the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, October 18th.

On average, analysts expect that Steel Dynamics will report full year earnings of $2.72 per share for the current financial year, with EPS estimates ranging from $2.52 to $2.92. For the next year, analysts expect that the business will report earnings of $2.83 per share, with EPS estimates ranging from $2.35 to $3.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. Steel Dynamics’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share.

STLD has been the subject of a number of research analyst reports. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Longbow Research downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Bank of America Corporation reissued a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Berenberg Bank reissued a “buy” rating and set a $46.00 target price on shares of Steel Dynamics in a research report on Monday, June 19th. Finally, Morgan Stanley downgraded shares of Steel Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $45.00 to $33.00 in a research report on Tuesday, September 12th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $40.63.

Shares of Steel Dynamics (NASDAQ:STLD) traded up 1.4898% on Tuesday, reaching $36.7799. 804,813 shares of the company’s stock traded hands. Steel Dynamics has a 52 week low of $23.52 and a 52 week high of $40.17. The stock’s 50-day moving average price is $34.40 and its 200-day moving average price is $34.90. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 16.8948 and a beta of 1.29.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Saturday, September 30th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, September 28th. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.

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In related news, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the transaction, the insider now directly owns 26,778 shares in the company, valued at $1,018,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now owns 1,005,666 shares in the company, valued at $38,637,687.72. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hefty Wealth Partners lifted its stake in Steel Dynamics by 76.1% during the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares during the last quarter. Achmea Investment Management B.V. bought a new position in Steel Dynamics during the second quarter worth $534,000. Lord Abbett & CO. LLC lifted its stake in Steel Dynamics by 10.3% during the second quarter. Lord Abbett & CO. LLC now owns 1,177,700 shares of the basic materials company’s stock worth $42,173,000 after purchasing an additional 110,000 shares during the last quarter. USA Financial Portformulas Corp bought a new position in Steel Dynamics during the second quarter worth $525,000. Finally, Toronto Dominion Bank bought a new position in Steel Dynamics during the second quarter worth $107,000. Hedge funds and other institutional investors own 82.64% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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