Steel Dynamics (NASDAQ:STLD) Releases Q3 2026 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) issued an update on its third quarter 2026 earnings guidance on Thursday morning. The company provided EPS guidance of 5.340-5.380 for the period, compared to the consensus earnings per share estimate of 5.660. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. KeyCorp reiterated an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Morgan Stanley reduced their price target on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen raised Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. Finally, Wells Fargo & Company upped their target price on shares of Steel Dynamics from $255.00 to $257.00 and gave the stock an “overweight” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.55.

Steel Dynamics Trading Down 4.1%

Shares of Steel Dynamics stock opened at $235.26 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The stock has a market capitalization of $33.72 billion, a PE ratio of 21.33, a P/E/G ratio of 0.43 and a beta of 1.50. Steel Dynamics has a 1-year low of $134.87 and a 1-year high of $288.74. The company’s fifty day simple moving average is $244.07 and its 200-day simple moving average is $228.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.Steel Dynamics’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.01 earnings per share. As a group, equities analysts anticipate that Steel Dynamics will post 18.58 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is currently 19.22%.

More Steel Dynamics News

Here are the key news stories impacting Steel Dynamics this week:

• Positive Sentiment: Management projected third-quarter diluted EPS of $5.34–$5.38, representing both year-over-year and sequential earnings growth. The company cited record steel shipments, higher realized selling prices, lower scrap costs, strong customer demand and a nearly 50% year-over-year increase in its steel-fabrication backlog. Steel Dynamics Provides Third Quarter 2026 Earnings Guidance
• Positive Sentiment: Wells Fargo remained constructive on potential margin upside despite the guidance shortfall, while analysts’ published price targets remain above the current trading level. Steel Dynamics also repurchased approximately $261 million of stock during the quarter, supporting per-share value. STLD Gets Street Backing Despite Lower Guidance
• Positive Sentiment: Technical commentary had recently identified STLD breaking above its 50-day moving average, suggesting underlying momentum before the guidance-driven decline. Steel Dynamics Recently Broke Out Above the 50-Day Moving Average
• Neutral Sentiment: JPMorgan lowered its price target modestly from $273 to $272 and kept a neutral rating. The target still implies meaningful upside, but the revised stance signals limited near-term conviction.
• Negative Sentiment: The EPS outlook was below consensus estimates reported between approximately $5.50 and $5.66. Because steel shares had performed strongly, investors appeared to interpret the guidance as a miss against high expectations rather than as evidence of deteriorating operations. Steel Dynamics Slides as Third-Quarter Outlook Misses Expectations
• Negative Sentiment: Canada’s reported 50% tariff on U.S. steel added pressure by creating uncertainty around cross-border shipments, pricing and margins for Steel Dynamics and other domestic steelmakers. Steel Dynamics Stock Falls as Canada Tariffs and Weak Guidance Hit Hard
• Negative Sentiment: Recent insider activity showed 13 open-market sales and no purchases over six months. While such transactions may reflect scheduled or personal selling, the one-sided pattern can weigh on sentiment.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. Founded in 1993, the company operates electric arc furnaces that use recycled steel and other metallic inputs to manufacture a broad range of steel products. Its customers include companies in the construction, automotive, manufacturing, transportation, energy and appliance industries.

Steel Dynamics’ steel operations produce flat-rolled steel, structural steel, rail, engineered bar products and other specialty steel products.