Steel Dynamics (STLD) to Release Quarterly Earnings on Tuesday

Steel Dynamics (NASDAQ:STLD) is projected to release its earnings data after the market closes on Tuesday, April 22nd. Analysts expect Steel Dynamics to post earnings of $1.43 per share and revenue of $4.17 billion for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the business posted $2.61 EPS. On average, analysts expect Steel Dynamics to post $9 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $118.29 on Monday. The company’s 50 day moving average is $125.36 and its 200-day moving average is $128.41. The firm has a market cap of $17.73 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. Steel Dynamics has a 12-month low of $103.17 and a 12-month high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.69%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s dividend payout ratio is currently 20.41%.

Steel Dynamics announced that its board has initiated a share repurchase plan on Monday, February 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a research note on Tuesday, February 11th. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley raised shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $145.00 to $158.00 in a report on Friday, March 7th. Finally, BMO Capital Markets upgraded Steel Dynamics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $149.11.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.30% of the stock is currently owned by insiders.

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.