Steel Dynamics, Inc. to Post FY2024 Earnings of $10.25 Per Share, Zacks Research Forecasts (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) – Zacks Research lowered their FY2024 earnings estimates for Steel Dynamics in a report issued on Thursday, September 19th. Zacks Research analyst M. Agrawal now forecasts that the basic materials company will earn $10.25 per share for the year, down from their previous estimate of $10.60. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.57 per share. Zacks Research also issued estimates for Steel Dynamics’ Q2 2025 earnings at $2.38 EPS, Q3 2025 earnings at $2.27 EPS, FY2025 earnings at $9.41 EPS and FY2026 earnings at $10.79 EPS.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the company posted $4.81 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year.

STLD has been the subject of a number of other reports. Bank of America decreased their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Finally, BMO Capital Markets lowered their target price on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $141.29.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $120.96 on Monday. The stock’s 50-day moving average is $119.89 and its two-hundred day moving average is $128.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 8.31 and a beta of 1.32. Steel Dynamics has a 1-year low of $98.25 and a 1-year high of $151.34.

Hedge Funds Weigh In On Steel Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STLD. Franklin Resources Inc. raised its position in shares of Steel Dynamics by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock valued at $40,694,000 after acquiring an additional 37,033 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Steel Dynamics by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after buying an additional 25,280 shares in the last quarter. Schroder Investment Management Group raised its holdings in Steel Dynamics by 15.3% during the fourth quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after purchasing an additional 98,764 shares in the last quarter. SG Americas Securities LLC boosted its stake in Steel Dynamics by 1,498.4% during the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock valued at $4,407,000 after purchasing an additional 27,870 shares in the last quarter. Finally, Trustmark National Bank Trust Department lifted its holdings in shares of Steel Dynamics by 126.6% in the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock valued at $1,057,000 after buying an additional 3,986 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.52%. Steel Dynamics’s dividend payout ratio is currently 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.