Steel Dynamics, Inc. (NASDAQ:STLD) Expected to Post Quarterly Sales of $2.19 Billion

Equities research analysts expect that Steel Dynamics, Inc. (NASDAQ:STLD) will announce $2.19 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Steel Dynamics’ earnings, with estimates ranging from $2.11 billion to $2.25 billion. Steel Dynamics posted sales of $2.53 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 13.4%. The business is scheduled to issue its next quarterly earnings results after the market closes on Monday, October 19th.

According to Zacks, analysts expect that Steel Dynamics will report full-year sales of $9.11 billion for the current financial year, with estimates ranging from $8.82 billion to $9.34 billion. For the next fiscal year, analysts expect that the business will report sales of $9.55 billion, with estimates ranging from $9.03 billion to $9.81 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 20th. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Steel Dynamics had a return on equity of 14.53% and a net margin of 5.60%. Steel Dynamics’s revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS.

A number of equities research analysts recently issued reports on STLD shares. Cfra raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Wednesday, July 22nd. BMO Capital Markets increased their price objective on Steel Dynamics from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, September 18th. TheStreet downgraded Steel Dynamics from a “b-” rating to a “c+” rating in a research report on Wednesday, July 8th. BidaskClub upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. Finally, Credit Suisse Group boosted their price objective on shares of Steel Dynamics from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Steel Dynamics has a consensus rating of “Buy” and an average price target of $31.50.

Several institutional investors have recently bought and sold shares of STLD. Amundi Pioneer Asset Management Inc. grew its stake in Steel Dynamics by 12.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 256,517 shares of the basic materials company’s stock worth $9,048,000 after purchasing an additional 28,050 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Steel Dynamics by 12.2% during the first quarter. MML Investors Services LLC now owns 20,594 shares of the basic materials company’s stock worth $464,000 after buying an additional 2,235 shares during the period. Wellington Management Group LLP raised its holdings in Steel Dynamics by 65.0% in the first quarter. Wellington Management Group LLP now owns 296,584 shares of the basic materials company’s stock valued at $6,685,000 after acquiring an additional 116,841 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Steel Dynamics by 57.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 78,722 shares of the basic materials company’s stock worth $1,774,000 after acquiring an additional 28,622 shares during the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in Steel Dynamics during the 1st quarter worth approximately $246,000. 81.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of STLD opened at $33.39 on Thursday. The stock has a market cap of $7.02 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The company has a quick ratio of 2.20, a current ratio of 3.60 and a debt-to-equity ratio of 0.66. Steel Dynamics has a 52-week low of $14.98 and a 52-week high of $35.78. The firm’s fifty day moving average is $30.47 and its two-hundred day moving average is $27.14.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.00 annualized dividend and a yield of 2.99%. Steel Dynamics’s dividend payout ratio is presently 32.26%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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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