Q2 2024 EPS Estimates for Steel Dynamics, Inc. Boosted by Analyst (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at Seaport Res Ptn increased their Q2 2024 earnings per share estimates for Steel Dynamics in a report issued on Wednesday, April 24th. Seaport Res Ptn analyst M. Englert now forecasts that the basic materials company will earn $3.97 per share for the quarter, up from their previous estimate of $3.72. The consensus estimate for Steel Dynamics’ current full-year earnings is $11.79 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q1 2025 earnings at $3.35 EPS, Q2 2025 earnings at $3.76 EPS, Q3 2025 earnings at $3.24 EPS, Q4 2025 earnings at $3.07 EPS and FY2025 earnings at $13.41 EPS.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $4.01 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets raised their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Citigroup raised their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. UBS Group cut their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $134.04 on Friday. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 9.21 and a beta of 1.42. Steel Dynamics has a 12-month low of $90.55 and a 12-month high of $151.34. The company has a quick ratio of 1.67, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The business’s 50-day simple moving average is $137.39 and its 200 day simple moving average is $122.28.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $221,817,000. Ameriprise Financial Inc. increased its holdings in Steel Dynamics by 165.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after buying an additional 1,255,751 shares during the period. Assetmark Inc. raised its position in shares of Steel Dynamics by 105.7% in the 3rd quarter. Assetmark Inc. now owns 789,836 shares of the basic materials company’s stock valued at $84,686,000 after buying an additional 405,836 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $38,644,000. Finally, Nordea Investment Management AB boosted its position in shares of Steel Dynamics by 29.0% during the 3rd quarter. Nordea Investment Management AB now owns 997,827 shares of the basic materials company’s stock worth $106,139,000 after acquiring an additional 224,226 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Steel Dynamics Company Profile

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.