FY2024 EPS Estimates for Steel Dynamics, Inc. (NASDAQ:STLD) Reduced by Analyst

Steel Dynamics, Inc. (NASDAQ:STLD) – Research analysts at Zacks Research decreased their FY2024 earnings per share estimates for Steel Dynamics in a research report issued on Thursday, September 19th. Zacks Research analyst M. Agrawal now expects that the basic materials company will post earnings of $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.

Several other research analysts have also commented on STLD. JPMorgan Chase & Co. upgraded 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. Bank of America dropped their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. UBS Group upgraded 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 research report on Tuesday, September 3rd. Finally, BMO Capital Markets dropped their target price on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.29.

Steel Dynamics Trading Up 3.1 %

STLD opened at $124.67 on Monday. The firm has a market cap of $19.59 billion, a P/E ratio of 8.56 and a beta of 1.32. Steel Dynamics has a 12 month low of $98.25 and a 12 month high of $151.34. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $119.73 and a 200 day moving average of $128.88.

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

Steel Dynamics Dividend Announcement

The company 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 is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.48%. Steel Dynamics’s payout ratio is 12.64%.

Institutional Trading of Steel Dynamics

A number of large investors have recently modified their holdings of STLD. National Bank of Canada FI boosted its holdings in shares of Steel Dynamics by 481.2% in the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after purchasing an additional 272,226 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Steel Dynamics by 65.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after purchasing an additional 225,832 shares during the period. Swedbank AB purchased a new stake in shares of Steel Dynamics in the first quarter valued at approximately $32,178,000. Acadian Asset Management LLC boosted its holdings in shares of Steel Dynamics by 21.6% in the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after purchasing an additional 202,312 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at approximately $24,670,000. Hedge funds and other 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.