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Steel Dynamics (STLD) Exceeds Market Returns: Some Facts to Consider
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Steel Dynamics (STLD - Free Report) closed at $146.99 in the latest trading session, marking a +1.49% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.86%. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.51%.
Heading into today, shares of the steel producer and metals recycler had gained 8.92% over the past month, outpacing the Basic Materials sector's gain of 5.24% and the S&P 500's gain of 2.84% in that time.
The investment community will be closely monitoring the performance of Steel Dynamics in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. On that day, Steel Dynamics is projected to report earnings of $3.49 per share, which would represent a year-over-year decline of 12.97%. At the same time, our most recent consensus estimate is projecting a revenue of $4.58 billion, reflecting a 6.43% fall from the equivalent quarter last year.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $11.63 per share and revenue of $17.8 billion. These results would represent year-over-year changes of -22.21% and -5.28%, respectively.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding 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.
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 0.55% lower. As of now, Steel Dynamics holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 12.45. This indicates a premium in contrast to its industry's Forward P/E of 10.98.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Steel Dynamics (STLD) Exceeds Market Returns: Some Facts to Consider
Steel Dynamics (STLD - Free Report) closed at $146.99 in the latest trading session, marking a +1.49% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.86%. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.51%.
Heading into today, shares of the steel producer and metals recycler had gained 8.92% over the past month, outpacing the Basic Materials sector's gain of 5.24% and the S&P 500's gain of 2.84% in that time.
The investment community will be closely monitoring the performance of Steel Dynamics in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. On that day, Steel Dynamics is projected to report earnings of $3.49 per share, which would represent a year-over-year decline of 12.97%. At the same time, our most recent consensus estimate is projecting a revenue of $4.58 billion, reflecting a 6.43% fall from the equivalent quarter last year.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $11.63 per share and revenue of $17.8 billion. These results would represent year-over-year changes of -22.21% and -5.28%, respectively.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding 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.
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 0.55% lower. As of now, Steel Dynamics holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 12.45. This indicates a premium in contrast to its industry's Forward P/E of 10.98.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.