Steel Dynamics (NASDAQ:STLD) issued its quarterly earnings results on Monday. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.12, MarketWatch Earnings reports. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.41 billion. Steel Dynamics had a return on equity of 13.33% and a net margin of 5.17%. The company’s revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Steel Dynamics updated its Q2 guidance to above $2.03 EPS.
Shares of NASDAQ:STLD opened at $51.19 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 3.28 and a debt-to-equity ratio of 0.65. Steel Dynamics has a 52 week low of $20.58 and a 52 week high of $52.72. The firm has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $39.48. The stock has a market capitalization of $10.81 billion, a P/E ratio of 22.55, a PEG ratio of 1.06 and a beta of 1.40.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Wednesday, March 31st were paid a dividend of $0.26 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 30th. This represents a $1.04 dividend on an annualized basis and a yield of 2.03%. Steel Dynamics’s dividend payout ratio is presently 33.55%.
Several equities analysts recently commented on STLD shares. Morgan Stanley increased their target price on shares of Steel Dynamics from $44.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. BMO Capital Markets boosted their target price on Steel Dynamics from $46.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, March 18th. They noted that the move was a valuation call. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $61.00 in a research report on Tuesday. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research report on Tuesday, March 16th. Finally, The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Thursday, April 15th. They issued a “buy” rating and a $57.00 target price for the company. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $46.89.
Steel Dynamics Company Profile
Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.
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