Q3 2024 Earnings Estimate for Steel Dynamics, Inc. Issued By Seaport Res Ptn (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at Seaport Res Ptn increased their Q3 2024 EPS estimates for shares of Steel Dynamics in a research report issued to clients and investors on Wednesday, April 24th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings per share of $3.26 for the quarter, up from their previous estimate of $2.75. The consensus estimate for Steel Dynamics’ current full-year earnings is $12.31 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q4 2024 earnings at $2.91 EPS and FY2024 earnings at $13.81 EPS.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company earned $4.01 EPS. Steel Dynamics’s revenue for the quarter was down 4.1% compared to the same quarter last year.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets boosted their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Citigroup lifted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, UBS Group reduced their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $121.17.

Steel Dynamics Price Performance

STLD stock opened at $135.07 on Monday. Steel Dynamics has a 12-month low of $90.55 and a 12-month high of $151.34. The stock has a market capitalization of $21.33 billion, a price-to-earnings ratio of 9.28 and a beta of 1.42. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $137.63 and its two-hundred day moving average price is $122.66.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Institutional Trading of Steel Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its stake in Steel Dynamics by 1.1% in the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after purchasing an additional 11,026 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in Steel Dynamics in the 4th quarter worth about $14,762,000. Barclays PLC grew its stake 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 purchasing an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Steel Dynamics by 13.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock valued at $60,808,000 after buying an additional 59,668 shares during the period. 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 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.