Steel Dynamics (NASDAQ:STLD) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Steel Dynamics (NASDAQ:STLD) issued its earnings results on Monday. The basic materials company reported $5.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.21), Zacks reports. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.

Steel Dynamics Price Performance

NASDAQ STLD traded up $4.63 during trading hours on Monday, hitting $245.17. 1,476,241 shares of the company’s stock traded hands, compared to its average volume of 1,195,724. Steel Dynamics has a 52-week low of $144.78 and a 52-week high of $288.74. The company has a market capitalization of $35.14 billion, a PE ratio of 22.23, a PEG ratio of 0.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The firm’s 50-day moving average is $238.98 and its 200-day moving average is $236.65.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio is presently 19.22%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STLD shares. Bank of America decreased their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. UBS Group raised their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings lowered shares of Steel Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. JPMorgan Chase & Co. cut their target price on shares of Steel Dynamics from $272.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Finally, Wall Street Zen cut shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 20th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of “Moderate Buy” and an average price target of $258.64.

About Steel Dynamics

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.