Brokers Offer Predictions for Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at Seaport Res Ptn increased their FY2024 earnings per share (EPS) estimates for Steel Dynamics in a research note issued on Thursday, October 17th. Seaport Res Ptn analyst M. Englert now forecasts that the basic materials company will earn $9.98 per share for the year, up from their previous forecast 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.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the business posted $3.47 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets upped their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Morgan Stanley dropped their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Down 1.2 %

Steel Dynamics stock opened at $131.80 on Monday. The firm has a 50 day moving average price of $121.14 and a 200-day moving average price of $127.13. The company has a quick ratio of 1.19, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics has a twelve month low of $98.32 and a twelve month high of $151.34. The company has a market capitalization of $20.34 billion, a P/E ratio of 11.93 and a beta of 1.31.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.40%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.00% of the stock is currently owned by insiders.

Institutional Trading of Steel Dynamics

Large investors have recently modified their holdings of the business. Larson Financial Group LLC bought a new position in shares of Steel Dynamics in the first quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in Steel Dynamics in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Steel Dynamics in the 2nd quarter worth $41,000. Riverview Trust Co purchased a new stake in shares of Steel Dynamics during the 1st quarter valued at $50,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 100 shares during the last quarter. 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.