Steel Dynamics (STLD) Expected to Announce Quarterly Earnings on Tuesday

Steel Dynamics (NASDAQ:STLD) is expected to issue its quarterly earnings data after the market closes on Tuesday, April 22nd. Analysts expect the company to announce earnings of $1.43 per share and revenue of $4.17 billion for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the company earned $2.61 EPS. On average, analysts expect Steel Dynamics to post $9 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Steel Dynamics Stock Up 0.9 %

Shares of NASDAQ:STLD opened at $118.29 on Monday. Steel Dynamics has a 1 year low of $103.17 and a 1 year high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The business’s 50-day moving average is $125.36 and its 200-day moving average is $128.41. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.05 and a beta of 1.35.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 1.69%. Steel Dynamics’s payout ratio is 20.41%.

Steel Dynamics announced that its Board of Directors has approved a stock repurchase program on Monday, February 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on STLD. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a report on Monday, March 24th. Wolfe Research upgraded Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $158.00 in a research note on Friday, March 7th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.11.

Steel Dynamics Company Profile

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.