Steel Dynamics (NASDAQ:STLD) Issues Q4 2024 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) updated its fourth quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.260-1.300 for the period, compared to the consensus EPS estimate of 1.490. The company issued revenue guidance of -.

Steel Dynamics Stock Up 0.3 %

NASDAQ:STLD opened at $115.69 on Friday. The company’s 50-day simple moving average is $136.24 and its 200-day simple moving average is $127.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market capitalization of $17.61 billion, a P/E ratio of 10.47 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the business posted $3.47 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Steel Dynamics will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.59%. Steel Dynamics’s payout ratio is presently 16.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STLD shares. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Citigroup reduced their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group restated a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $144.25.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock worth $3,885,938 in the last ninety days. 6.00% of the stock is owned by insiders.

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.