FY2024 EPS Estimate for Steel Dynamics Increased by Analyst

Steel Dynamics, Inc. (NASDAQ:STLD) – Stock analysts at Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for Steel Dynamics in a research note issued to investors on Thursday, October 17th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings per share of $9.98 for the year, up from their previous estimate of $9.97. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.12 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q2 2025 earnings at $3.18 EPS, Q3 2025 earnings at $2.96 EPS and Q4 2025 earnings at $2.78 EPS.

Several other research analysts have also recently commented on STLD. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, BMO Capital Markets increased their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $144.29.

Steel Dynamics Stock Up 1.1 %

STLD stock opened at $136.57 on Monday. The company’s 50 day moving average price is $120.79 and its 200 day moving average price is $127.37. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of 9.38 and a beta of 1.31. Steel Dynamics has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. Steel Dynamics’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.47 EPS.

Institutional Trading of Steel Dynamics

Large investors have recently made changes to their positions in the company. Wedmont Private Capital acquired a new stake in Steel Dynamics during the 1st quarter worth $231,000. Park Avenue Securities LLC grew its holdings in shares of Steel Dynamics by 11.1% during the first quarter. Park Avenue Securities LLC now owns 3,874 shares of the basic materials company’s stock worth $574,000 after buying an additional 386 shares during the last quarter. Ballentine Partners LLC acquired a new position in Steel Dynamics in the 1st quarter valued at about $227,000. Northwest Investment Counselors LLC purchased a new stake in Steel Dynamics during the 1st quarter valued at approximately $83,000. Finally, Gateway Investment Advisers LLC lifted its position in Steel Dynamics by 1.5% during the 1st quarter. Gateway Investment Advisers LLC now owns 55,324 shares of the basic materials company’s stock worth $8,201,000 after acquiring an additional 822 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.35%. Steel Dynamics’s dividend payout ratio is presently 12.64%.

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.