Equities Analysts Offer Predictions for Steel Dynamics, Inc.’s Q2 2024 Earnings (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Research analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for shares of Steel Dynamics in a note issued to investors on Wednesday, April 24th. Seaport Res Ptn analyst M. Englert now forecasts that the basic materials company will post earnings per share of $3.97 for the quarter, up from their prior 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 released 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. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. Steel Dynamics’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.01 EPS.

Several other equities analysts have also recently issued reports on STLD. UBS Group reduced their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Citigroup boosted their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. BMO Capital Markets boosted their target price on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $121.17.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $134.04 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.67. The business’s 50 day simple moving average is $137.39 and its two-hundred day simple moving average is $122.37. The stock has a market capitalization of $21.17 billion, a P/E ratio of 9.21 and a beta of 1.42. Steel Dynamics has a one year low of $90.55 and a one year high of $151.34.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in Steel Dynamics by 1.1% in the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after acquiring an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Steel Dynamics in the fourth quarter worth about $14,762,000. Barclays PLC increased its position in Steel Dynamics by 3.1% in the third quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock worth $38,975,000 after buying an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd increased its position in Steel Dynamics by 13.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after buying an additional 59,668 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Steel Dynamics in the fourth quarter worth about $1,087,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Increases Dividend

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