Steel Dynamics, Inc. to post FY2024 earnings of $10.25 per share, Zacks Research (NASDAQ:STLD) forecasts

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Steel Dynamics, Inc. (NASDAQ:STLD – Free Report ) – Zacks Research decreased their FY2024 earnings estimates for Steel Dynamics in a report issued on Thursday, September 19th. Zacks Research analyst M. Agrawal now anticipates that the basic materials company will earn $10.25 per share for the year, down from their prior 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 – Get Your Free Report ) last posted 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. 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. In the same quarter last year, the company posted EPS of $4.81. The company’s revenue was down 8.8% compared to the same quarter last year.

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STLD has been the subject of a number of other reports. Bank of America cut 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 upped their price target 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 reduced 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 reduced their price target 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 17. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $141.29, according to MarketBeat.

View the latest stock report on Steel Dynamics

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 influence the dynamics of steel

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 purchasing an additional 37,033 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Steel Dynamics by 2.5% in the first quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after purchasing an additional 25,280 shares in the last quarter. Schroder Investment Management Group boosted 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 raised its stake in Steel Dynamics by 1,498.4% in the first 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 boosted 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 purchasing an additional 3,986 shares during the period. 82.41% of the shares are held by hedge funds and other institutional investors.

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 of this dividend is Monday, September 30. This represents an annualized dividend of $1.84 and a yield of 1.52%. Steel Dynamics’ dividend payout ratio is currently 12.64%.

About Steel Dynamics

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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 products, alloy intermediate hardness and premium grade rail products; specialty bar quality products, merchant bar quality products and other engineered steel round bars; channels, angles, planes, commercial rounds and reinforcing steel bars; and specialty shapes and mild structural steel products.