Steel Dynamics (NASDAQ:STLD) Releases Q3 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.66-0.70 for the period, compared to the Thomson Reuters consensus estimate of $0.72.

NASDAQ STLD traded down $0.83 during trading hours on Tuesday, reaching $30.96. 1,939,166 shares of the company traded hands, compared to its average volume of 2,407,133. Steel Dynamics has a 12 month low of $25.02 and a 12 month high of $48.17. The company has a current ratio of 4.35, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $6.94 billion, a PE ratio of 5.64, a PEG ratio of 0.83 and a beta of 1.65. The company has a 50 day moving average of $28.52 and a two-hundred day moving average of $30.86.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.02). Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the company earned $1.53 earnings per share. The company’s revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics will post 3.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. Steel Dynamics’s dividend payout ratio (DPR) is 17.49%.

A number of research analysts have recently issued reports on STLD shares. Longbow Research downgraded shares of Steel Dynamics from a buy rating to a neutral rating in a research report on Monday, August 26th. BidaskClub upgraded shares of Steel Dynamics from a sell rating to a hold rating in a research report on Thursday, September 12th. Citigroup set a $34.00 price target on shares of Steel Dynamics and gave the stock a buy rating in a research report on Tuesday, June 11th. ValuEngine upgraded shares of Steel Dynamics from a sell rating to a hold rating in a research report on Thursday, September 12th. Finally, Goldman Sachs Group cut their price objective on shares of Steel Dynamics from $44.00 to $36.00 and set a buy rating on the stock in a research report on Tuesday, June 4th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $37.27.

In other Steel Dynamics news, SVP Miguel Alvarez acquired 8,920 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $27.72 per share, with a total value of $247,262.40. Following the purchase, the senior vice president now directly owns 700 shares of the company’s stock, valued at approximately $19,404. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.90% of the company’s stock.

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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