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Steel Dynamics (STLD) Outpaces Stock Market Gains: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $104.82 in the latest trading session, marking a +1.57% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.49%. Meanwhile, the Dow gained 1.6%, and the Nasdaq, a tech-heavy index, added 0.06%.
Coming into today, shares of the steel producer and metals recycler had lost 3.04% in the past month. In that same time, the Basic Materials sector gained 0.7%, while the S&P 500 lost 3.49%.
Steel Dynamics will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.57, down 38.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.68 billion, down 11.87% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.47 per share and revenue of $22.22 billion. These totals would mark changes of +33.44% and +20.71%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 1.92% lower. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 4.81. This valuation marks a premium compared to its industry's average Forward P/E of 3.82.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Outpaces Stock Market Gains: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $104.82 in the latest trading session, marking a +1.57% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.49%. Meanwhile, the Dow gained 1.6%, and the Nasdaq, a tech-heavy index, added 0.06%.
Coming into today, shares of the steel producer and metals recycler had lost 3.04% in the past month. In that same time, the Basic Materials sector gained 0.7%, while the S&P 500 lost 3.49%.
Steel Dynamics will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.57, down 38.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.68 billion, down 11.87% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.47 per share and revenue of $22.22 billion. These totals would mark changes of +33.44% and +20.71%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 1.92% lower. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 4.81. This valuation marks a premium compared to its industry's average Forward P/E of 3.82.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.