Steel Dynamics (NASDAQ:STLD) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Steel Dynamics (NASDAQ:STLD) released its earnings results on Tuesday. The basic materials company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13, Briefing.com reports. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.01 earnings per share.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock traded up $0.58 on Wednesday, hitting $134.74. 526,987 shares of the company’s stock were exchanged, compared to its average volume of 1,172,840. The company has a 50-day simple moving average of $136.80 and a 200-day simple moving average of $121.97. The stock has a market capitalization of $21.28 billion, a PE ratio of 9.57 and a beta of 1.42. Steel Dynamics has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were issued a $0.46 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a yield of 1.37%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.61%.

Analyst Ratings Changes

STLD has been the topic of a number of research analyst reports. UBS Group reduced their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report 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 given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.17.

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.