Jefferies Financial Group Analysts Boost Earnings Estimates for Steel Dynamics, Inc. (STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at Jefferies Financial Group lifted their Q4 2019 earnings per share (EPS) estimates for shares of Steel Dynamics in a research note issued to investors on Monday, April 22nd. Jefferies Financial Group analyst M. Englert now expects that the basic materials company will earn $0.80 per share for the quarter, up from their previous forecast of $0.75. Jefferies Financial Group also issued estimates for Steel Dynamics’ FY2021 earnings at $2.31 EPS, FY2022 earnings at $2.05 EPS and FY2023 earnings at $2.83 EPS.

A number of other research firms have also recently weighed in on STLD. Goldman Sachs Group set a $44.00 price target on Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. They noted that the move was a valuation call. ValuEngine upgraded Steel Dynamics from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. Finally, Macquarie set a $36.00 price target on Steel Dynamics and gave the stock a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $46.64.

STLD opened at $31.59 on Thursday. The company has a market capitalization of $7.32 billion, a P/E ratio of 5.75, a PEG ratio of 0.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 4.02. Steel Dynamics has a 1-year low of $28.91 and a 1-year high of $52.10.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.91. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS.

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Sunday, March 31st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, March 29th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.19. Steel Dynamics’s dividend payout ratio is 17.49%.

A number of large investors have recently made changes to their positions in STLD. Bank of New York Mellon Corp grew its holdings in Steel Dynamics by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,264,092 shares of the basic materials company’s stock valued at $147,503,000 after buying an additional 72,097 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Steel Dynamics by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,373,423 shares of the basic materials company’s stock valued at $62,065,000 after buying an additional 107,058 shares during the last quarter. LPL Financial LLC grew its holdings in Steel Dynamics by 11.6% during the 3rd quarter. LPL Financial LLC now owns 55,900 shares of the basic materials company’s stock valued at $2,526,000 after buying an additional 5,816 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Steel Dynamics by 7.8% during the 3rd quarter. Mackenzie Financial Corp now owns 115,914 shares of the basic materials company’s stock valued at $5,238,000 after buying an additional 8,387 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Steel Dynamics by 6.3% during the 3rd quarter. Macquarie Group Ltd. now owns 65,639 shares of the basic materials company’s stock valued at $2,966,000 after buying an additional 3,873 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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

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