FY2022 EPS Estimates for Steel Dynamics, Inc. (NASDAQ:STLD) Decreased by Analyst

Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) – KeyCorp decreased their FY2022 earnings per share estimates for Steel Dynamics in a report released on Tuesday, April 19th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $15.70 per share for the year, down from their prior forecast of $16.25.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective on the stock in a research note on Monday, April 4th. StockNews.com initiated coverage on Steel Dynamics in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. The Goldman Sachs Group boosted their price objective on Steel Dynamics from $89.00 to $99.00 and gave the company a “buy” rating in a research note on Tuesday, March 22nd. Wolfe Research downgraded Steel Dynamics from a “peer perform” rating to an “underperform” rating and set a $60.00 price target on the stock. in a research note on Tuesday, January 11th. Finally, JPMorgan Chase & Co. upped their price target on Steel Dynamics from $95.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $84.25.

NASDAQ STLD opened at $93.24 on Friday. The firm has a market capitalization of $17.67 billion, a PE ratio of 5.94 and a beta of 1.40. The company has a current ratio of 3.10, a quick ratio of 1.51 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $77.54 and its two-hundred day moving average price is $67.17. Steel Dynamics has a 12 month low of $49.56 and a 12 month high of $100.37.

Steel Dynamics (NASDAQ:STLDGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.59 by $0.43. Steel Dynamics had a return on equity of 63.43% and a net margin of 17.46%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the company posted $2.10 EPS. The business’s revenue was up 57.1% on a year-over-year basis.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Steel Dynamics by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,425,620 shares of the basic materials company’s stock worth $375,789,000 after purchasing an additional 67,683 shares during the period. Millennium Management LLC boosted its position in shares of Steel Dynamics by 19.4% during 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 in the last quarter. Centiva Capital LP boosted its position in shares of Steel Dynamics by 325.0% during 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 in the last quarter. Boston Common Asset Management LLC boosted its position in shares of Steel Dynamics by 1.0% during the third quarter. Boston Common Asset Management LLC now owns 216,133 shares of the basic materials company’s stock valued at $12,639,000 after purchasing an additional 2,042 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Steel Dynamics by 20.6% during 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 in the last quarter. 79.32% of the stock is currently owned by institutional investors.

In other news, SVP Christopher A. Graham sold 4,425 shares of the firm’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $76.51, for a total value of $338,556.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Steel Dynamics declared that its board has authorized a stock buyback program on Monday, February 28th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the basic materials company to buy up to 8.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.46%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 30th. Steel Dynamics’s dividend payout ratio is 8.67%.

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.

Further Reading

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

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