Steel Dynamics (NASDAQ:STLD – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.940-1.980 for the period, compared to the consensus estimate of 2.070. The company issued revenue guidance of -.
Steel Dynamics Stock Down 0.2 %
Shares of NASDAQ:STLD opened at $119.83 on Friday. Steel Dynamics has a 12 month low of $98.25 and a 12 month high of $151.34. The firm has a market cap of $18.83 billion, a P/E ratio of 8.23 and a beta of 1.32. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $120.11 and its two-hundred day moving average price is $129.01.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $4.81 EPS. As a group, research analysts forecast that Steel Dynamics will post 10.57 EPS for the current fiscal year.
Steel Dynamics Dividend Announcement
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an equal weight rating for the company in a research report on Wednesday. Bank of America decreased their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a report on Wednesday, June 26th. UBS Group upgraded Steel Dynamics from a neutral rating to a buy rating and lifted their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded Steel Dynamics from an underweight rating to a neutral rating and increased their price target for the stock from $120.00 to $131.00 in a report on Monday, September 9th. Finally, BMO Capital Markets cut their price objective on Steel Dynamics from $135.00 to $127.00 and set a market perform rating on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of Hold and an average target price of $141.29.
Read Our Latest Research Report on STLD
About Steel Dynamics
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.
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