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Steel Dynamics (STLD) Dips More Than Broader Markets: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $102.64 in the latest trading session, marking a -0.23% move from the prior day. This change lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.01%.
Heading into today, shares of the steel producer and metals recycler had gained 9.39% over the past month, lagging the Basic Materials sector's gain of 9.46% and outpacing the S&P 500's gain of 1.83% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. On that day, Steel Dynamics is projected to report earnings of $3.81 per share, which would represent a year-over-year decline of 34.08%. Meanwhile, our latest consensus estimate is calling for revenue of $4.59 billion, down 13.63% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $21.89 per share and revenue of $21.82 billion, which would represent changes of +36.05% and +18.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Steel Dynamics's current valuation metrics, including its Forward P/E ratio of 4.7. This valuation marks a premium compared to its industry's average Forward P/E of 3.58.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 207, putting it in the bottom 18% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Steel Dynamics (STLD) Dips More Than Broader Markets: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $102.64 in the latest trading session, marking a -0.23% move from the prior day. This change lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.01%.
Heading into today, shares of the steel producer and metals recycler had gained 9.39% over the past month, lagging the Basic Materials sector's gain of 9.46% and outpacing the S&P 500's gain of 1.83% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. On that day, Steel Dynamics is projected to report earnings of $3.81 per share, which would represent a year-over-year decline of 34.08%. Meanwhile, our latest consensus estimate is calling for revenue of $4.59 billion, down 13.63% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $21.89 per share and revenue of $21.82 billion, which would represent changes of +36.05% and +18.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Steel Dynamics's current valuation metrics, including its Forward P/E ratio of 4.7. This valuation marks a premium compared to its industry's average Forward P/E of 3.58.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 207, putting it in the bottom 18% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.