Steel Dynamics (NASDAQ:STLD) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Steel Dynamics (NASDAQ:STLD) announced its earnings results on Wednesday. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07, Briefing.com reports. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.47 EPS.

Steel Dynamics Stock Up 1.5 %

Shares of NASDAQ STLD traded up $2.04 during midday trading on Friday, reaching $137.09. The company’s stock had a trading volume of 675,747 shares, compared to its average volume of 1,263,142. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The stock has a market capitalization of $21.15 billion, a price-to-earnings ratio of 10.96 and a beta of 1.31. The stock has a 50 day simple moving average of $120.44 and a 200-day simple moving average of $127.60.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.34%. Steel Dynamics’s dividend payout ratio (DPR) is currently 14.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $144.29.

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.