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Steel Dynamics (STLD) Gains As Market Dips: What You Should Know
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $101.54, marking a +0.51% move from the previous day. This change outpaced the S&P 500's 0.9% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the steel producer and metals recycler had gained 0.38% over the past month, outpacing the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% 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 $3.78 per share, which would represent a year-over-year decline of 34.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.68 billion, down 11.87% from the year-ago period.
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 might also notice recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 remained stagnant. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 4.61. This represents a premium compared to its industry's average Forward P/E of 3.71.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $101.54, marking a +0.51% move from the previous day. This change outpaced the S&P 500's 0.9% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the steel producer and metals recycler had gained 0.38% over the past month, outpacing the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% 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 $3.78 per share, which would represent a year-over-year decline of 34.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.68 billion, down 11.87% from the year-ago period.
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 might also notice recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 remained stagnant. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 4.61. This represents a premium compared to its industry's average Forward P/E of 3.71.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% 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.