Steel Dynamics (NASDAQ:STLD) Releases Earnings Results

Steel Dynamics (NASDAQ:STLD) posted its earnings results on Tuesday. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13, Briefing.com reports. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the firm posted $4.01 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $133.03 on Friday. The firm’s 50-day moving average price is $137.00 and its 200-day moving average price is $122.03. Steel Dynamics has a 1-year low of $90.55 and a 1-year high of $151.34. The firm has a market capitalization of $21.01 billion, a P/E ratio of 9.14 and a beta of 1.42. The company has a current ratio of 2.87, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.38%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STLD. BMO Capital Markets boosted their price objective 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 price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Citigroup upped their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.