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

Steel Dynamics (NASDAQ:STLD) posted its quarterly earnings data on Tuesday. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13, Briefing.com reports. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $4.01 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $134.16 on Wednesday. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $136.80 and a 200-day simple moving average of $121.97. The stock has a market cap of $21.19 billion, a P/E ratio of 9.20 and a beta of 1.42. Steel Dynamics has a 12-month low of $90.55 and a 12-month high of $151.34.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were given a $0.46 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.37%. Steel Dynamics’s dividend payout ratio is currently 12.61%.

Analysts Set New Price Targets

Several equities analysts have weighed in on STLD shares. Citigroup lifted their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. UBS Group reduced their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $121.17.

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.