Zacks Research Estimates Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at Zacks Research issued their FY2024 earnings estimates for Steel Dynamics in a research report issued on Tuesday, January 21st. Zacks Research analyst R. Department anticipates that the basic materials company will post earnings per share of $9.72 for the year. The consensus estimate for Steel Dynamics’ current full-year earnings is $9.70 per share. Zacks Research also issued estimates for Steel Dynamics’ Q4 2024 earnings at $1.28 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $2.31 EPS, Q3 2025 earnings at $2.34 EPS, FY2025 earnings at $8.48 EPS, Q3 2026 earnings at $3.17 EPS, Q4 2026 earnings at $1.95 EPS and FY2026 earnings at $10.77 EPS.

STLD has been the subject of several other reports. Jefferies Financial Group dropped their target price on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. UBS Group reissued a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. BMO Capital Markets increased their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.88.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $122.89 on Thursday. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56. The stock has a market cap of $18.71 billion, a PE ratio of 11.12 and a beta of 1.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The stock has a 50 day moving average price of $127.92 and a 200 day moving average price of $126.41.

Steel Dynamics (NASDAQ:STLD) last released 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 19.82% and a net margin of 9.80%. During the same quarter in the previous year, the business earned $2.61 earnings per share.

Institutional Trading of Steel Dynamics

A number of large investors have recently modified their holdings of STLD. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics during the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in shares of Steel Dynamics in the 4th quarter valued at about $28,000. Private Trust Co. NA grew its position in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics during the third quarter worth approximately $61,000. Finally, Quest Partners LLC acquired a new stake in Steel Dynamics in the third quarter valued at approximately $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,650 shares of company stock worth $1,498,170. Insiders own 6.00% of the company’s stock.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.50%. Steel Dynamics’s payout ratio is currently 16.65%.

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.