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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 the most recent trading day at $101.38, moving -1.28% from the previous trading session. This change lagged the S&P 500's daily loss of 0.08%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq gained 11.55%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 5.28% over the past month. This has lagged the Basic Materials sector's loss of 2.28% and the S&P 500's loss of 1.03% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $3.60 per share. This would mark a year-over-year decline of 37.72%. Our most recent consensus estimate is calling for quarterly revenue of $4.73 billion, down 10.89% from the year-ago period.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 16.75% higher within the past month. Steel Dynamics is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 9.49. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 9.49.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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) Dips More Than Broader Markets: What You Should Know
Steel Dynamics (STLD - Free Report) closed the most recent trading day at $101.38, moving -1.28% from the previous trading session. This change lagged the S&P 500's daily loss of 0.08%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq gained 11.55%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 5.28% over the past month. This has lagged the Basic Materials sector's loss of 2.28% and the S&P 500's loss of 1.03% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $3.60 per share. This would mark a year-over-year decline of 37.72%. Our most recent consensus estimate is calling for quarterly revenue of $4.73 billion, down 10.89% from the year-ago period.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 16.75% higher within the past month. Steel Dynamics is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 9.49. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 9.49.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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.