Steel Dynamics (NASDAQ:STLD – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.940-1.980 for the period, compared to the consensus estimate of 2.070. The company issued revenue guidance of -.
Steel Dynamics Stock Down 0.2 %
STLD stock opened at $119.83 on Friday. Steel Dynamics has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of 8.23 and a beta of 1.32. The business’s fifty day moving average price is $120.11 and its two-hundred day moving average price is $129.01.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. Steel Dynamics’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm earned $4.81 earnings per share. On average, equities analysts anticipate that Steel Dynamics will post 10.57 earnings per share for the current year.
Steel Dynamics Announces Dividend
Wall Street Analyst Weigh In
STLD has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an equal weight rating on the stock in a report on Wednesday. UBS Group raised shares of Steel Dynamics from a neutral rating to a buy rating and lifted their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. BMO Capital Markets reduced their target price on Steel Dynamics from $135.00 to $127.00 and set a market perform rating on the stock in a report on Tuesday, September 17th. Bank of America lowered their price target on Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised Steel Dynamics from an underweight rating to a neutral rating and raised their price objective for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of Hold and a consensus target price of $141.29.
View Our Latest Research Report on Steel Dynamics
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.
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