Steel Dynamics Inc. [STLD] Revenue clocked in at $22.26 billion, up 4.15% YTD: What’s Next?

Steel Dynamics Inc. [NASDAQ: STLD] traded at a low on 03/15/23, posting a -12.50 loss after which it closed the day’ session at $101.75. The company report on March 15, 2023 that Steel Dynamics Provides First Quarter 2023 Earnings Guidance.

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Steel Dynamics, Inc. (NASDAQ/GS: STLD) today provided first quarter 2023 earnings guidance in the range of $3.47 to $3.51 per diluted share. Excluding the impact from costs associated with the startup of the company’s Sinton Texas Flat Roll Steel Mill growth investment of an estimated $78 million, or $0.31 per diluted share, the company expects first quarter 2023 adjusted earnings to be in the range of $3.78 to $3.82 per diluted share.

Comparatively, the company’s sequential fourth quarter 2022 earnings were $3.61 per diluted share, and adjusted earnings were $4.37 per diluted share excluding additional performance-based companywide special compensation of approximately $0.09 per diluted share (awarded to all non-executive, eligible team members in recognition of the company’s exceptional annual performance) and costs of $0.67 per diluted share associated with startup of the company’s Texas Flat Roll Steel Mill. Prior year first quarter earnings were $5.71 per diluted share and adjusted earnings were $6.02 per diluted share, excluding costs of $0.31 per diluted share, associated with construction and startup of the company’s Texas Flat Roll Steel Mill.

The results of the trading session contributed to over 6149139 shares changing hands. Over the past one week, the price volatility of Steel Dynamics Inc. stands at 6.67% while the volatility over the past one month is 4.15%.

The market cap for STLD stock reached $18.59 billion, with 174.71 million shares outstanding and 165.28 million shares in the current float. Compared to the average trading volume of 2.40M shares, STLD reached a trading volume of 6149139 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Steel Dynamics Inc. [STLD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STLD shares is $113.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STLD stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Steel Dynamics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 15, 2023. While these analysts kept the previous recommendation, Goldman raised their target price from $114 to $118. The new note on the price target was released on January 27, 2023, representing the official price target for Steel Dynamics Inc. stock. Previously, the target price had yet another raise to $121, while BofA Securities analysts kept a Buy rating on STLD stock.

The Average True Range (ATR) for Steel Dynamics Inc. is set at 5.71, with the Price to Sales ratio for STLD stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 12.35. Price to Free Cash Flow for STLD in the course of the last twelve months was 5.61 with Quick ratio for the last quarter at 2.20.

How has STLD stock performed recently?

Steel Dynamics Inc. [STLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.27. With this latest performance, STLD shares dropped by -17.78% in over the last four-week period, additionally plugging by 24.22% over the last 6 months – not to mention a rise of 42.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STLD stock in for the last two-week period is set at 28.41, with the RSI for the last a single of trading hit 20.14, and the three-weeks RSI is set at 34.67 for Steel Dynamics Inc. [STLD]. The present Moving Average for the last 50 days of trading for this stock 118.02, while it was recorded at 116.73 for the last single week of trading, and 92.65 for the last 200 days.

Steel Dynamics Inc. [STLD]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Steel Dynamics Inc. [STLD] shares currently have an operating margin of +22.77 and a Gross Margin at +25.22. Steel Dynamics Inc.’s Net Margin is presently recorded at +17.35.

Return on Equity for this stock inclined to 53.52, with Return on Assets sitting at 28.81.

Steel Dynamics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 3.80.

Earnings analysis for Steel Dynamics Inc. [STLD]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STLD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Steel Dynamics Inc. go to 28.06%.

Insider trade positions for Steel Dynamics Inc. [STLD]

There are presently around $14,688 million, or 85.70% of STLD stock, in the hands of institutional investors. The top three institutional holders of STLD stocks are: VANGUARD GROUP INC with ownership of 21,822,262, which is approximately 11.487% of the company’s market cap and around 5.80% of the total institutional ownership; BLACKROCK INC., holding 17,084,669 shares of the stock with an approximate value of $1.74 billion in STLD stocks shares; and FMR LLC, currently with $885.62 million in STLD stock with ownership of nearly 4.798% of the company’s market capitalization.

Positions in Steel Dynamics Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 339 institutional holders increased their position in Steel Dynamics Inc. [NASDAQ:STLD] by around 18,499,100 shares. Additionally, 310 investors decreased positions by around 18,884,342 shares, while 72 investors held positions by with 106,974,842 shares. The mentioned changes placed institutional holdings at 144,358,284 shares, according to the latest SEC report filing. STLD stock had 130 new institutional investments in for a total of 2,782,233 shares, while 38 institutional investors sold positions of 1,446,095 shares during the same period.


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