Steel Dynamics (NASDAQ:STLD) Issues Q3 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $1.94-1.98 for the period, compared to the consensus EPS estimate of $2.09.

Steel Dynamics Stock Up 3.1 %

Shares of STLD stock opened at $114.49 on Wednesday. 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 12 month low of $95.53 and a 12 month high of $151.34. The stock has a market cap of $17.99 billion, a P/E ratio of 7.86 and a beta of 1.32. The company has a 50 day simple moving average of $120.93 and a two-hundred day simple moving average of $129.38.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. Steel Dynamics’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.81 EPS. On average, research analysts expect that Steel Dynamics will post 10.81 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.61%. Steel Dynamics’s payout ratio is currently 12.64%.

Analysts Set New Price Targets

Several research firms recently issued reports on STLD. Bank of America reduced their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a report on Wednesday, June 26th. Morgan Stanley increased their price objective on shares of Steel Dynamics from $134.00 to $138.00 and gave the stock an equal weight rating in a research note on Thursday, August 15th. BMO Capital Markets decreased their price target on Steel Dynamics from $135.00 to $127.00 and set a market perform rating on the stock in a report on Tuesday. JPMorgan Chase & Co. raised Steel Dynamics from an underweight rating to a neutral rating and upped their price objective for the stock from $120.00 to $131.00 in a research note on Monday, September 9th. Finally, UBS Group upgraded Steel Dynamics from a neutral rating to a buy rating and increased their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $142.29.

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.