Steel Dynamics (NASDAQ:STLD) Issues Earnings Results, Beats Estimates By $0.05 EPS

Steel Dynamics (NASDAQ:STLD) issued its quarterly earnings data on Wednesday. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05, Briefing.com reports. Steel Dynamics had a return on equity of 23.03% and a net margin of 11.10%. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the prior year, the company posted $4.81 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year.

Steel Dynamics Stock Down 1.4 %

Shares of STLD stock traded down $1.75 on Friday, reaching $127.38. 219,074 shares of the company’s stock traded hands, compared to its average volume of 1,236,825. The company has a market capitalization of $20.02 billion, a P/E ratio of 8.75 and a beta of 1.35. Steel Dynamics has a 12-month low of $95.53 and a 12-month high of $151.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The business’s 50 day moving average price is $128.96 and its two-hundred day moving average price is $129.42.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Sunday, June 30th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 1.44%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective for the company. Bank of America decreased their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, BMO Capital Markets decreased their price target on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $133.86.

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.