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Steel Dynamics (STLD) Gains But Lags Market: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $110.38 in the latest trading session, marking a +0.56% move from the prior day. This change lagged the S&P 500's 0.73% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.01%.
Coming into today, shares of the steel producer and metals recycler had gained 9.32% in the past month. In that same time, the Basic Materials sector gained 0.55%, while the S&P 500 gained 0.09%.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $3.78 per share. This would mark a year-over-year decline of 34.6%. Meanwhile, our latest consensus estimate is calling for revenue of $4.68 billion, down 11.87% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $21.89 per share and revenue of $22.11 billion, which would represent changes of +36.05% and +20.13%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 #2 (Buy).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 5.01. Its industry sports an average Forward P/E of 3.88, 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 197, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Steel Dynamics (STLD) Gains But Lags Market: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $110.38 in the latest trading session, marking a +0.56% move from the prior day. This change lagged the S&P 500's 0.73% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.01%.
Coming into today, shares of the steel producer and metals recycler had gained 9.32% in the past month. In that same time, the Basic Materials sector gained 0.55%, while the S&P 500 gained 0.09%.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $3.78 per share. This would mark a year-over-year decline of 34.6%. Meanwhile, our latest consensus estimate is calling for revenue of $4.68 billion, down 11.87% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $21.89 per share and revenue of $22.11 billion, which would represent changes of +36.05% and +20.13%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 #2 (Buy).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 5.01. Its industry sports an average Forward P/E of 3.88, 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 197, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.