Wall Street brokerages predict that Steel Dynamics, Inc. (NASDAQ:STLD) will report $2.96 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Steel Dynamics’ earnings. The lowest sales estimate is $2.84 billion and the highest is $3.02 billion. Steel Dynamics posted sales of $2.34 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.5%. The business is scheduled to report its next earnings report on Monday, January 28th.

According to Zacks, analysts expect that Steel Dynamics will report full year sales of $11.90 billion for the current fiscal year, with estimates ranging from $11.76 billion to $11.97 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.95 billion, with estimates ranging from $11.15 billion to $12.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Steel Dynamics.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 17th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.14 billion. Steel Dynamics had a return on equity of 31.96% and a net margin of 11.49%. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS.

Several research firms recently weighed in on STLD. Zacks Investment Research downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, October 15th. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Steel Dynamics in a research note on Wednesday, July 25th. ValuEngine downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Steel Dynamics in a research note on Monday, October 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.31.

In other Steel Dynamics news, insider Christopher A. Graham sold 10,800 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $47.61, for a total transaction of $514,188.00. Following the sale, the insider now owns 26,087 shares in the company, valued at approximately $1,242,002.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Canton Hathaway LLC acquired a new stake in shares of Steel Dynamics during the third quarter worth $106,000. Qube Research & Technologies Ltd acquired a new stake in shares of Steel Dynamics during the second quarter worth $119,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Steel Dynamics during the third quarter worth $134,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Steel Dynamics during the second quarter worth $193,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of Steel Dynamics by 6,707.7% during the second quarter. CENTRAL TRUST Co now owns 4,425 shares of the basic materials company’s stock worth $203,000 after purchasing an additional 4,360 shares during the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.

NASDAQ STLD traded down $0.37 during mid-day trading on Wednesday, hitting $39.91. The stock had a trading volume of 1,919,301 shares, compared to its average volume of 2,348,764. Steel Dynamics has a 52-week low of $35.80 and a 52-week high of $52.10. The company has a market capitalization of $9.25 billion, a P/E ratio of 15.06, a PEG ratio of 0.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.94 and a quick ratio of 2.17.

Steel Dynamics announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 4th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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

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