Steel Dynamics (NASDAQ:STLD) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Steel Dynamics (NASDAQ:STLD) posted its quarterly earnings results on Tuesday. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.54 by $0.13, Briefing.com reports. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.83%. Steel Dynamics’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.01 EPS.

Steel Dynamics Stock Down 3.2 %

Shares of STLD opened at $129.92 on Thursday. The company has a 50-day simple moving average of $136.80 and a 200-day simple moving average of $121.97. The firm has a market capitalization of $20.52 billion, a P/E ratio of 8.92 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. Steel Dynamics has a 52 week low of $90.55 and a 52 week high of $151.34.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Analyst Upgrades and Downgrades

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

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.