Steel Dynamics (STLD - Free Report) closed at $62.16 in the latest trading session, marking a -1.4% move from the prior day. This change was narrower than the S&P 500's 1.84% loss on the day. Meanwhile, the Dow lost 1.38%, and the Nasdaq, a tech-heavy index, lost 0.38%.
Coming into today, shares of the steel producer and metals recycler had gained 16.48% in the past month. In that same time, the Basic Materials sector gained 3.65%, while the S&P 500 lost 1.96%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.24 per share. This would mark year-over-year growth of 149.52%. Our most recent consensus estimate is calling for quarterly revenue of $5.19 billion, up 46.37% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $12.21 per share and revenue of $17.87 billion. These results would represent year-over-year changes of -24.11% and -2.93%, respectively.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.55% higher within the past month. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 5.16. This valuation marks a premium compared to its industry's average Forward P/E of 4.61.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Steel Dynamics (STLD - Free Report) closed at $62.16 in the latest trading session, marking a -1.4% move from the prior day. This change was narrower than the S&P 500's 1.84% loss on the day. Meanwhile, the Dow lost 1.38%, and the Nasdaq, a tech-heavy index, lost 0.38%.
Coming into today, shares of the steel producer and metals recycler had gained 16.48% in the past month. In that same time, the Basic Materials sector gained 3.65%, while the S&P 500 lost 1.96%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.24 per share. This would mark year-over-year growth of 149.52%. Our most recent consensus estimate is calling for quarterly revenue of $5.19 billion, up 46.37% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $12.21 per share and revenue of $17.87 billion. These results would represent year-over-year changes of -24.11% and -2.93%, respectively.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.55% higher within the past month. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 5.16. This valuation marks a premium compared to its industry's average Forward P/E of 4.61.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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