Analysts expect that Steel Dynamics, Inc. (NASDAQ:STLD) will post $2.81 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Steel Dynamics’ earnings, with the highest sales estimate coming in at $2.98 billion and the lowest estimate coming in at $2.67 billion. Steel Dynamics reported sales of $2.60 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.1%. The business is scheduled to issue its next earnings results before the market opens on Monday, April 22nd.
According to Zacks, analysts expect that Steel Dynamics will report full year sales of $11.70 billion for the current year, with estimates ranging from $11.15 billion to $12.43 billion. For the next year, analysts anticipate that the business will report sales of $11.59 billion, with estimates ranging from $10.70 billion to $12.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Steel Dynamics had a return on equity of 35.44% and a net margin of 10.65%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year.
Shares of STLD traded down $0.20 during midday trading on Wednesday, hitting $33.96. 2,278,886 shares of the company’s stock traded hands, compared to its average volume of 2,104,092. Steel Dynamics has a 1 year low of $28.91 and a 1 year high of $52.10. The company has a current ratio of 3.96, a quick ratio of 2.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $7.57 billion, a PE ratio of 6.19, a P/E/G ratio of 0.71 and a beta of 1.39.
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Sunday, March 31st were paid a $0.24 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, March 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.83%. Steel Dynamics’s dividend payout ratio (DPR) is 17.49%.
A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of Steel Dynamics by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,264,092 shares of the basic materials company’s stock valued at $147,503,000 after buying an additional 72,097 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Steel Dynamics by 39.5% during the 3rd quarter. Franklin Resources Inc. now owns 7,322 shares of the basic materials company’s stock valued at $331,000 after buying an additional 2,075 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Steel Dynamics by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,373,423 shares of the basic materials company’s stock valued at $62,065,000 after buying an additional 107,058 shares during the last quarter. LPL Financial LLC raised its stake in shares of Steel Dynamics by 11.6% during the 3rd quarter. LPL Financial LLC now owns 55,900 shares of the basic materials company’s stock valued at $2,526,000 after buying an additional 5,816 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Steel Dynamics by 112.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 113,647 shares of the basic materials company’s stock valued at $5,136,000 after buying an additional 60,240 shares during the last quarter. Institutional investors own 82.55% of the company’s stock.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. 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; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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