Steel Dynamics (NASDAQ:STLD) Issues Q3 2024 Earnings Guidance

Steel Dynamics (NASDAQ:STLDGet 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:STLDGet 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

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio is 12.64%.

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

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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