Q2 2024 Earnings Forecast for Steel Dynamics, Inc. (NASDAQ:STLD) Issued By Seaport Res Ptn

Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at Seaport Res Ptn lowered their Q2 2024 EPS estimates for shares of Steel Dynamics in a research note issued on Monday, June 17th. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will post earnings per share of $2.67 for the quarter, down from their previous estimate of $2.83. The consensus estimate for Steel Dynamics’ current full-year earnings is $12.20 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q3 2024 earnings at $2.75 EPS, FY2024 earnings at $11.71 EPS, Q1 2025 earnings at $3.19 EPS, Q2 2025 earnings at $3.52 EPS, Q4 2025 earnings at $2.90 EPS and FY2025 earnings at $12.92 EPS.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. BMO Capital Markets cut their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday. Jefferies Financial Group began coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $127.43.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $125.00 on Tuesday. The firm has a market capitalization of $19.64 billion, a PE ratio of 8.60 and a beta of 1.40. The firm has a fifty day simple moving average of $132.99 and a two-hundred day simple moving average of $128.18. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. Steel Dynamics has a 12 month low of $95.53 and a 12 month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. Steel Dynamics’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.01 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of STLD. Larson Financial Group LLC purchased a new position in Steel Dynamics in the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new stake in Steel Dynamics during the 1st quarter valued at $26,000. CVA Family Office LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $29,000. Finally, Lindbrook Capital LLC grew its position in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 134 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the transaction, the senior vice president now owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by insiders.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) 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.