FY2019 Earnings Estimate for Steel Dynamics, Inc. (STLD) Issued By KeyCorp

Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at KeyCorp lowered their FY2019 EPS estimates for shares of Steel Dynamics in a research note issued on Tuesday, May 21st. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $3.30 per share for the year, down from their prior estimate of $3.35. KeyCorp also issued estimates for Steel Dynamics’ FY2020 earnings at $3.00 EPS.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.91. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.80 billion. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 earnings per share.

A number of other brokerages have also issued reports on STLD. Goldman Sachs Group set a $44.00 target price on Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday, April 23rd. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Credit Suisse Group lowered Steel Dynamics from an “outperform” rating to a “neutral” rating and cut their target price for the company from $38.00 to $29.00 in a research report on Thursday. ValuEngine lowered Steel Dynamics from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. Finally, Macquarie set a $36.00 target price on Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $46.08.

Shares of NASDAQ STLD opened at $27.20 on Thursday. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 4.95, a PEG ratio of 0.67 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 4.02. Steel Dynamics has a 52-week low of $27.01 and a 52-week high of $51.69.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Thursday, June 27th. Steel Dynamics’s dividend payout ratio is currently 17.49%.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Steel Dynamics by 3.4% during the first quarter. BlackRock Inc. now owns 24,696,468 shares of the basic materials company’s stock worth $871,044,000 after acquiring an additional 802,211 shares during the period. Vanguard Group Inc increased its position in shares of Steel Dynamics by 4.3% during the third quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock worth $965,150,000 after acquiring an additional 882,061 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Steel Dynamics by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,980,443 shares of the basic materials company’s stock worth $175,647,000 after acquiring an additional 508,062 shares during the period. Norges Bank purchased a new stake in shares of Steel Dynamics during the fourth quarter worth $146,724,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Steel Dynamics by 2,996.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,061,799 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 3,930,619 shares during the period. 83.69% of the stock is currently owned by institutional investors and hedge funds.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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