Steel Dynamics, Inc. (NASDAQ:STLD) released its quarterly earnings results on Monday. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63, Bloomberg Earnings reports. Steel Dynamics had a return on equity of 21.77% and a net margin of 6.19%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the company posted $0.58 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis.
Shares of Steel Dynamics (NASDAQ STLD) traded up 2.71% on Wednesday, hitting $37.49. The company had a trading volume of 3,208,402 shares. The stock has a market cap of $9.06 billion, a PE ratio of 17.70 and a beta of 1.25. The company has a 50-day moving average of $34.94 and a 200 day moving average of $35.24. Steel Dynamics has a 12 month low of $22.79 and a 12 month high of $40.17.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 30th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.65%. Steel Dynamics’s dividend payout ratio is currently 29.25%.
A number of equities analysts recently issued reports on STLD shares. Zacks Investment Research lowered Steel Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Berenberg Bank reissued a “buy” rating and set a $46.00 price target on shares of Steel Dynamics in a report on Monday, June 19th. Credit Suisse Group raised Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, May 24th. Deutsche Bank AG reissued a “buy” rating on shares of Steel Dynamics in a report on Saturday, June 24th. Finally, Longbow Research raised Steel Dynamics from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. Steel Dynamics has an average rating of “Buy” and a consensus target price of $38.03.
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Steel Dynamics Company Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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