Steel Dynamics (NASDAQ:STLD) Releases Q3 2021 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) updated its third quarter 2021 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.880-$4.920 for the period, compared to the Thomson Reuters consensus estimate of $4.190. The company issued revenue guidance of -.

Several equities research analysts have weighed in on STLD shares. BMO Capital Markets restated a hold rating and set a $68.00 price target on shares of Steel Dynamics in a report on Wednesday, July 7th. Zacks Investment Research lowered shares of Steel Dynamics from a strong-buy rating to a hold rating and set a $64.00 price target on the stock. in a research note on Tuesday, July 27th. Morgan Stanley upped their price objective on shares of Steel Dynamics from $70.00 to $71.00 and gave the company an overweight rating in a research note on Monday, June 14th. Seaport Res Ptn reiterated a buy rating on shares of Steel Dynamics in a research report on Monday, August 23rd. Finally, Seaport Global Securities began coverage on Steel Dynamics in a research report on Monday, August 23rd. They issued a buy rating and a $75.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Steel Dynamics has an average rating of Buy and an average target price of $70.55.

Shares of NASDAQ:STLD opened at $61.97 on Wednesday. Steel Dynamics has a 52 week low of $28.31 and a 52 week high of $74.37. The company has a 50-day moving average price of $65.04 and a 200 day moving average price of $59.09. The company has a market cap of $12.65 billion, a P/E ratio of 9.24 and a beta of 1.44. The company has a quick ratio of 1.50, a current ratio of 2.84 and a debt-to-equity ratio of 0.62.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Sunday, July 18th. The basic materials company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.03). Steel Dynamics had a return on equity of 33.47% and a net margin of 10.98%. The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period last year, the company posted $0.47 earnings per share. The business’s quarterly revenue was up 113.2% on a year-over-year basis. Analysts expect that Steel Dynamics will post 14.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, September 29th. Steel Dynamics’s dividend payout ratio (DPR) is currently 36.62%.

Steel Dynamics announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In related news, CEO Mark D. Millett sold 176,751 shares of the business’s stock in a transaction dated Friday, September 3rd. The shares were sold at an average price of $67.08, for a total value of $11,856,457.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark D. Millett sold 67,686 shares of Steel Dynamics stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $66.34, for a total transaction of $4,490,289.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 444,543 shares of company stock worth $30,543,309. Corporate insiders own 5.20% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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