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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 $107.60 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's daily loss of 0.19%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the steel producer and metals recycler had gained 11.88% over the past month, outpacing the Basic Materials sector's gain of 9.51% and the S&P 500's gain of 4.7% in that time.
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 $3.81 per share, which would represent a year-over-year decline of 34.08%. Our most recent consensus estimate is calling for quarterly revenue of $4.59 billion, down 13.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.89 per share and revenue of $21.82 billion. These totals would mark changes of +36.05% and +18.54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Steel Dynamics currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 4.95 right now. This represents a premium compared to its industry's average Forward P/E of 3.88.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Steel Dynamics (STLD) Dips More Than Broader Markets: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $107.60 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's daily loss of 0.19%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the steel producer and metals recycler had gained 11.88% over the past month, outpacing the Basic Materials sector's gain of 9.51% and the S&P 500's gain of 4.7% in that time.
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 $3.81 per share, which would represent a year-over-year decline of 34.08%. Our most recent consensus estimate is calling for quarterly revenue of $4.59 billion, down 13.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.89 per share and revenue of $21.82 billion. These totals would mark changes of +36.05% and +18.54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Steel Dynamics currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 4.95 right now. This represents a premium compared to its industry's average Forward P/E of 3.88.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.