Zacks: Analysts Anticipate Steel Dynamics, Inc. (STLD) Will Announce Quarterly Sales of $2.37 Billion

Wall Street brokerages expect that Steel Dynamics, Inc. (NASDAQ:STLD) will report sales of $2.37 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Steel Dynamics’ earnings, with estimates ranging from $2.30 billion to $2.47 billion. Steel Dynamics posted sales of $2.10 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.9%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 18th.

On average, analysts expect that Steel Dynamics will report full-year sales of $2.37 billion for the current year, with estimates ranging from $9.15 billion to $9.46 billion. For the next fiscal year, analysts expect that the company will post sales of $9.46 billion per share, with estimates ranging from $8.95 billion to $10.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the business earned $0.58 EPS. Steel Dynamics’s revenue was up 18.1% compared to the same quarter last year.

STLD has been the subject of several analyst reports. Longbow Research upgraded Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Berenberg Bank reiterated a “buy” rating and issued a $46.00 price objective on shares of Steel Dynamics in a research report on Monday, June 19th. Deutsche Bank AG reiterated a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Steel Dynamics in a research report on Monday, June 26th. Finally, BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Steel Dynamics presently has a consensus rating of “Buy” and an average price target of $40.63.

Steel Dynamics (STLD) remained flat at $36.17 during trading on Thursday. 1,911,914 shares of the company’s stock were exchanged. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 16.61 and a beta of 1.29. Steel Dynamics has a 12-month low of $23.52 and a 12-month high of $40.17. The stock’s 50 day moving average is $34.48 and its 200-day moving average is $34.93.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Saturday, September 30th were given a $0.155 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.71%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.

In related news, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. IHT Wealth Management LLC lifted its position in shares of Steel Dynamics by 0.7% in the 2nd quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 3 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of Steel Dynamics in the 2nd quarter valued at approximately $107,000. Washington Trust Bank lifted its position in Steel Dynamics by 48.8% in the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,113 shares in the last quarter. Hefty Wealth Partners lifted its position in Steel Dynamics by 76.1% in the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after buying an additional 1,477 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.

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Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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On average, analysts expect that Steel Dynamics will report full-year sales of $2.37 billion for the current year, with estimates ranging from $9.15 billion to $9.46 billion. For the next fiscal year, analysts expect that the company will post sales of $9.46 billion per share, with estimates ranging from $8.95 billion to $10.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the business earned $0.58 EPS. Steel Dynamics’s revenue was up 18.1% compared to the same quarter last year.

STLD has been the subject of several analyst reports. Longbow Research upgraded Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Berenberg Bank reiterated a “buy” rating and issued a $46.00 price objective on shares of Steel Dynamics in a research report on Monday, June 19th. Deutsche Bank AG reiterated a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Steel Dynamics in a research report on Monday, June 26th. Finally, BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Steel Dynamics presently has a consensus rating of “Buy” and an average price target of $40.63.

Steel Dynamics (STLD) remained flat at $36.17 during trading on Thursday. 1,911,914 shares of the company’s stock were exchanged. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 16.61 and a beta of 1.29. Steel Dynamics has a 12-month low of $23.52 and a 12-month high of $40.17. The stock’s 50 day moving average is $34.48 and its 200-day moving average is $34.93.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Saturday, September 30th were given a $0.155 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.71%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.

In related news, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. IHT Wealth Management LLC lifted its position in shares of Steel Dynamics by 0.7% in the 2nd quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 3 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of Steel Dynamics in the 2nd quarter valued at approximately $107,000. Washington Trust Bank lifted its position in Steel Dynamics by 48.8% in the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,113 shares in the last quarter. Hefty Wealth Partners lifted its position in Steel Dynamics by 76.1% in the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after buying an additional 1,477 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/18/zacks-analysts-anticipate-steel-dynamics-inc-stld-will-announce-quarterly-sales-of-2-37-billion.html.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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