Q4 2022 Earnings Forecast for Steel Dynamics, Inc. (NASDAQ:STLD) Issued By KeyCorp

Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) – Equities researchers at KeyCorp issued their Q4 2022 EPS estimates for Steel Dynamics in a report issued on Monday, November 21st. KeyCorp analyst P. Gibbs forecasts that the basic materials company will earn $3.88 per share for the quarter. The consensus estimate for Steel Dynamics’ current full-year earnings is $21.89 per share. KeyCorp also issued estimates for Steel Dynamics’ FY2023 earnings at $8.40 EPS.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group upped their target price on Steel Dynamics from $88.00 to $99.00 and gave the company a “buy” rating in a report on Friday, October 21st. BMO Capital Markets upped their target price on Steel Dynamics from $89.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, November 14th. Morgan Stanley upped their target price on Steel Dynamics from $78.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 21st. StockNews.com downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Citigroup increased their price objective on Steel Dynamics to $110.00 in a report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average price target of $94.14.

Steel Dynamics Price Performance

Shares of STLD opened at $103.95 on Thursday. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of 4.59 and a beta of 1.46. Steel Dynamics has a fifty-two week low of $50.54 and a fifty-two week high of $106.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.67 and a quick ratio of 2.08. The business’s 50-day moving average is $87.02 and its 200-day moving average is $79.89.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds have recently modified their holdings of the business. Catalyst Capital Advisors LLC bought a new stake in shares of Steel Dynamics in the first quarter valued at approximately $36,000. First Horizon Advisors Inc. boosted its position in shares of Steel Dynamics by 70.0% in the second quarter. First Horizon Advisors Inc. now owns 464 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 191 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Steel Dynamics by 425.8% in the second quarter. Parkside Financial Bank & Trust now owns 468 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 379 shares during the period. Quent Capital LLC boosted its position in shares of Steel Dynamics by 1,042.9% in the first quarter. Quent Capital LLC now owns 480 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 438 shares during the period. Finally, Clearstead Advisors LLC bought a new stake in shares of Steel Dynamics in the third quarter valued at approximately $35,000. 80.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Keith E. Busse sold 22,103 shares of the stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $96.33, for a total transaction of $2,129,181.99. Following the transaction, the director now owns 701,948 shares in the company, valued at $67,618,650.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.40% of the company’s stock.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Saturday, December 31st will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, December 30th. This represents a $1.36 annualized dividend and a yield of 1.31%. Steel Dynamics’s dividend payout ratio (DPR) is presently 6.00%.

Steel Dynamics declared that its Board of Directors has approved a stock repurchase program on Thursday, November 10th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Steel Dynamics Company Profile

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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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