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 -.

STLD has been the subject of several analyst reports. JPMorgan Chase & Co. reissued an overweight rating and set a $107.00 target price on shares of Steel Dynamics in a research note on Wednesday, June 16th. Seaport Res Ptn reissued a buy rating on shares of Steel Dynamics in a research note on Monday, August 23rd. BMO Capital Markets reissued a hold rating and set a $68.00 target price on shares of Steel Dynamics in a research note on Wednesday, July 7th. Seaport Global Securities started coverage on Steel Dynamics in a report on Monday, August 23rd. They set a buy rating and a $75.00 price target for the company. Finally, Morgan Stanley lifted their price target on Steel Dynamics from $70.00 to $71.00 and gave the stock an overweight rating in a report on Monday, June 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $70.55.

Shares of Steel Dynamics stock traded up $2.59 on Wednesday, hitting $64.56. The stock had a trading volume of 37,836 shares, compared to its average volume of 2,230,444. Steel Dynamics has a 52-week low of $28.31 and a 52-week high of $74.37. The company has a current ratio of 2.84, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 9.24 and a beta of 1.44. The company’s 50 day moving average price is $65.04 and its 200 day moving average price is $59.09.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.61%. The ex-dividend date is Wednesday, September 29th. Steel Dynamics’s dividend payout ratio (DPR) is presently 36.62%.

Steel Dynamics declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In other Steel Dynamics news, CFO Theresa E. Wagler sold 38,043 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $70.71, for a total transaction of $2,690,020.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gabriel Shaheen sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $71.25, for a total value of $463,125.00. The disclosure for this sale can be found here. Insiders sold a total of 444,543 shares of company stock worth $30,543,309 in the last 90 days. 5.20% of the stock is currently owned by insiders.

Steel Dynamics Company Profile

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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