Steel Dynamics (NASDAQ:STLD) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Steel Dynamics (NASDAQ:STLD) announced its quarterly earnings results on Tuesday. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13, Briefing.com reports. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.83% and a net margin of 12.89%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.01 EPS.

Steel Dynamics Trading Down 3.2 %

Shares of STLD opened at $129.92 on Thursday. The stock has a fifty day moving average of $136.80 and a two-hundred day moving average of $121.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The company has a market capitalization of $20.52 billion, a PE ratio of 8.92 and a beta of 1.42. Steel Dynamics has a fifty-two week low of $90.55 and a fifty-two week high of $151.34.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.42%. Steel Dynamics’s payout ratio is 12.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on STLD. BMO Capital Markets boosted their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Citigroup boosted their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. UBS Group decreased their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $121.17.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.