Steel Dynamics, Inc. (STLD) Expected to Announce Earnings of $1.68 Per Share
Wall Street analysts predict that Steel Dynamics, Inc. (NASDAQ:STLD) will post $1.68 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Steel Dynamics’ earnings. The lowest EPS estimate is $1.62 and the highest is $1.77. Steel Dynamics posted earnings per share of $0.66 in the same quarter last year, which would indicate a positive year-over-year growth rate of 154.5%. The business is scheduled to issue its next earnings results on Wednesday, October 17th.
On average, analysts expect that Steel Dynamics will report full-year earnings of $5.55 per share for the current year, with EPS estimates ranging from $5.30 to $5.80. For the next financial year, analysts expect that the business will post earnings of $4.90 per share, with EPS estimates ranging from $3.50 to $5.92. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 23rd. The basic materials company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. Steel Dynamics had a return on equity of 26.90% and a net margin of 10.01%. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the company posted $0.63 earnings per share. Steel Dynamics’s quarterly revenue was up 29.3% on a year-over-year basis.
In other news, insider Christopher A. Graham sold 10,800 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $47.61, for a total transaction of $514,188.00. Following the completion of the sale, the insider now owns 26,087 shares in the company, valued at $1,242,002.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.
Several large investors have recently modified their holdings of STLD. Qube Research & Technologies Ltd bought a new stake in shares of Steel Dynamics during the second quarter worth approximately $119,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Steel Dynamics during the first quarter worth approximately $188,000. Itau Unibanco Holding S.A. bought a new stake in shares of Steel Dynamics during the second quarter worth approximately $193,000. CENTRAL TRUST Co boosted its holdings in shares of Steel Dynamics by 6,707.7% during the second quarter. CENTRAL TRUST Co now owns 4,425 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 4,360 shares during the period. Finally, HL Financial Services LLC bought a new stake in shares of Steel Dynamics during the second quarter worth approximately $203,000. Institutional investors own 83.30% of the company’s stock.
Steel Dynamics stock opened at $45.58 on Monday. Steel Dynamics has a 52 week low of $33.02 and a 52 week high of $52.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.61 and a quick ratio of 1.92. The stock has a market cap of $10.80 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 0.69 and a beta of 1.31.
Steel Dynamics announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 4th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the basic materials company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Sunday, September 30th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, September 27th. Steel Dynamics’s dividend payout ratio is presently 28.30%.
Steel Dynamics Company Profile
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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