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Steel Dynamics (STLD) Stock Moves -1.62%: What You Should Know
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $75.89, marking a -1.62% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.06%.
Coming into today, shares of the steel producer and metals recycler had lost 7.05% in the past month. In that same time, the Basic Materials sector gained 0.51%, while the S&P 500 lost 4.08%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. On that day, Steel Dynamics is projected to report earnings of $4.97 per share, which would represent year-over-year growth of 0.2%. Meanwhile, our latest consensus estimate is calling for revenue of $5.48 billion, up 7.67% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $20.95 per share and revenue of $21.97 billion, which would represent changes of +30.21% and +19.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.76% lower. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.68 right now. Its industry sports an average Forward P/E of 2.87, so we one might conclude that Steel Dynamics is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.
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Steel Dynamics (STLD) Stock Moves -1.62%: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $75.89, marking a -1.62% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.06%.
Coming into today, shares of the steel producer and metals recycler had lost 7.05% in the past month. In that same time, the Basic Materials sector gained 0.51%, while the S&P 500 lost 4.08%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. On that day, Steel Dynamics is projected to report earnings of $4.97 per share, which would represent year-over-year growth of 0.2%. Meanwhile, our latest consensus estimate is calling for revenue of $5.48 billion, up 7.67% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $20.95 per share and revenue of $21.97 billion, which would represent changes of +30.21% and +19.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.76% lower. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.68 right now. Its industry sports an average Forward P/E of 2.87, so we one might conclude that Steel Dynamics is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.