Steel Dynamics (NASDAQ:STLD) Updates Q2 Earnings Guidance

Steel Dynamics (NASDAQ:STLD) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.86-0.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.94.

NASDAQ:STLD opened at $29.71 on Thursday. The stock has a market cap of $6.36 billion, a PE ratio of 5.41, a PEG ratio of 0.68 and a beta of 1.46. The company has a current ratio of 4.02, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. Steel Dynamics has a 1-year low of $25.02 and a 1-year high of $49.70.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics will post 3.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.23%. The ex-dividend date is Thursday, June 27th. Steel Dynamics’s payout ratio is presently 17.49%.

Several analysts recently commented on STLD shares. Goldman Sachs Group set a $44.00 price target on Steel Dynamics and gave the stock a buy rating in a report on Tuesday, April 23rd. Credit Suisse Group cut Steel Dynamics from an outperform rating to a neutral rating and cut their price target for the stock from $38.00 to $29.00 in a report on Thursday, May 23rd. BidaskClub upgraded Steel Dynamics from a strong sell rating to a sell rating in a report on Saturday, May 4th. Citigroup set a $34.00 price target on Steel Dynamics and gave the stock a buy rating in a report on Tuesday, June 11th. Finally, ValuEngine cut Steel Dynamics from a sell rating to a strong sell rating in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $42.54.

In related news, insider Glenn Pushis purchased 5,740 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average cost of $26.13 per share, with a total value of $149,986.20. Following the transaction, the insider now owns 91,289 shares of the company’s stock, valued at approximately $2,385,381.57. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Russell B. Rinn purchased 2,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average cost of $25.58 per share, with a total value of $51,160.00. Following the completion of the transaction, the insider now directly owns 220,459 shares in the company, valued at approximately $5,639,341.22. The disclosure for this purchase can be found here. Insiders have bought 12,740 shares of company stock worth $336,296 over the last ninety days. 4.90% of the stock is owned by insiders.

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About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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