Steel Dynamics (STLD) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Steel Dynamics (NASDAQ:STLD) issued its quarterly earnings results on Wednesday. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.04, RTT News reports. Steel Dynamics had a net margin of 10.01% and a return on equity of 26.90%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business posted $0.66 EPS. Steel Dynamics’s quarterly revenue was up 31.9% compared to the same quarter last year.
Shares of STLD traded up $0.05 during mid-day trading on Thursday, reaching $40.60. 50,000 shares of the stock traded hands, compared to its average volume of 2,317,332. The firm has a market capitalization of $10.61 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.61 and a quick ratio of 1.92. Steel Dynamics has a 1 year low of $35.48 and a 1 year high of $52.10.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Sunday, September 30th were paid a $0.1875 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.75 dividend on an annualized basis and a yield of 1.85%. Steel Dynamics’s dividend payout ratio is 28.30%.
In other news, insider Christopher A. Graham sold 10,800 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $47.61, for a total transaction of $514,188.00. Following the completion of the transaction, the insider now directly owns 26,087 shares in the company, valued at approximately $1,242,002.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by insiders.
A number of research analysts recently weighed in on the stock. Deutsche Bank lowered shares of Steel Dynamics to a “buy” rating in a research note on Tuesday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $58.00 price objective on shares of Steel Dynamics in a research note on Wednesday, July 25th. Zacks Investment Research lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Morgan Stanley upgraded shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $50.00 to $52.00 in a research note on Monday, August 27th. Finally, BidaskClub lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $54.08.
About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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