Steel Dynamics (STLD) Set to Announce Earnings on Tuesday

Steel Dynamics (NASDAQ:STLD) will issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $3.53 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the business posted $4.37 earnings per share. Steel Dynamics’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, analysts expect Steel Dynamics to post $12 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $140.97 on Tuesday. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market cap of $22.27 billion, a P/E ratio of 9.66 and a beta of 1.42. The company has a 50-day moving average price of $135.07 and a 200 day moving average price of $120.70. Steel Dynamics has a 12-month low of $90.55 and a 12-month high of $151.34.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.31%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio (DPR) is 12.61%.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in STLD. Wellington Shields & Co. LLC raised its stake in Steel Dynamics by 50.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Clearstead Advisors LLC acquired a new stake in Steel Dynamics during the 3rd quarter worth approximately $35,000. Clear Street Markets LLC boosted its holdings in Steel Dynamics by 94.0% in the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 158 shares during the period. Providence Capital Advisors LLC boosted its stake in shares of Steel Dynamics by 11,205.0% during the 1st quarter. Providence Capital Advisors LLC now owns 4,522 shares of the basic materials company’s stock valued at $40,000 after buying an additional 4,482 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of Steel Dynamics during the 2nd quarter valued at approximately $40,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STLD has been the subject of several recent research reports. Citigroup raised their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. UBS Group cut their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Finally, BMO Capital Markets lifted their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $117.43.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.