Q3 2024 EPS Estimates for Steel Dynamics, Inc. (NASDAQ:STLD) Raised by Seaport Res Ptn

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities researchers at Seaport Res Ptn increased their Q3 2024 earnings per share (EPS) estimates for shares of Steel Dynamics in a note issued to investors on Wednesday, April 24th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will earn $3.26 per share for the quarter, up from their previous estimate of $2.75. The consensus estimate for Steel Dynamics’ current full-year earnings is $12.31 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q4 2024 earnings at $2.91 EPS and FY2024 earnings at $13.81 EPS.

A number of other equities research analysts have also recently weighed in on STLD. BMO Capital Markets raised their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. Citigroup raised their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. UBS Group dropped their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $121.17.

Steel Dynamics Trading Down 3.7 %

STLD stock opened at $130.12 on Monday. The business has a fifty day moving average price of $137.63 and a 200 day moving average price of $122.66. Steel Dynamics has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The stock has a market capitalization of $20.55 billion, a price-to-earnings ratio of 8.94 and a beta of 1.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.01 EPS.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in shares of Steel Dynamics by 1.1% in the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after purchasing an additional 11,026 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Steel Dynamics in the 4th quarter worth $14,762,000. Barclays PLC boosted its position in shares of Steel Dynamics by 3.1% in the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock worth $38,975,000 after purchasing an additional 10,942 shares during the last quarter. AustralianSuper Pty Ltd boosted its position in shares of Steel Dynamics by 13.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after purchasing an additional 59,668 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Steel Dynamics in the 4th quarter worth $1,087,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a $0.46 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

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.