Zacks Research Forecasts Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for Steel Dynamics in a report released on Tuesday, January 21st. Zacks Research analyst R. Department forecasts that the basic materials company will post earnings of $9.72 per share 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 topic of several other reports. StockNews.com downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Financial Group dropped their target price on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. BMO Capital Markets lifted their price objective 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. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group assumed coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $140.88.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $122.37 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of 11.07 and a beta of 1.36. The stock’s fifty day moving average price is $127.61 and its two-hundred day moving average price is $126.38. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) 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 period in the prior year, the firm posted $2.61 EPS.

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Miguel Alvarez sold 6,650 shares of the company’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 sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,650 shares of company stock worth $1,498,170. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors have recently made changes to their positions in STLD. Holocene Advisors LP boosted its stake in shares of Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Steel Dynamics by 6.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after acquiring an additional 96,122 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after acquiring an additional 253,802 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after acquiring an additional 548,086 shares during the period. Finally, Barclays PLC raised its position in shares of Steel Dynamics by 21.8% in the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock worth $56,603,000 after acquiring an additional 80,262 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.