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

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

Steel Dynamics Trading Down 1.6 %

Shares of Steel Dynamics stock traded down $2.16 on Wednesday, hitting $132.00. 703,073 shares of the company traded hands, compared to its average volume of 1,174,637. The company has a market cap of $20.85 billion, a PE ratio of 9.57 and a beta of 1.42. The stock’s 50 day moving average price is $136.80 and its 200-day moving average price is $121.97. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Steel Dynamics has a 52 week low of $90.55 and a 52 week high of $151.34.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. 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. Steel Dynamics’s payout ratio is currently 12.61%.

Analysts Set New Price Targets

A number of equities analysts recently commented on STLD shares. UBS Group decreased their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Citigroup raised their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, BMO Capital Markets raised their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.