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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 $72.39, marking a +0.61% move from the previous day. This change outpaced the S&P 500's 0.43% loss on the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 0.62%.
Coming into today, shares of the steel producer and metals recycler had gained 15.03% in the past month. In that same time, the Basic Materials sector gained 4.32%, while the S&P 500 lost 6.57%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. On that day, Steel Dynamics is projected to report earnings of $5.27 per share, which would represent year-over-year growth of 150.95%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.17 billion, up 45.79% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $13.58 per share and revenue of $18.24 billion. These results would represent year-over-year changes of -15.6% and -0.9%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 12.81% higher. Steel Dynamics is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 5.3. This represents a premium compared to its industry's average Forward P/E of 4.42.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 35, which puts it in the top 14% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $72.39, marking a +0.61% move from the previous day. This change outpaced the S&P 500's 0.43% loss on the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 0.62%.
Coming into today, shares of the steel producer and metals recycler had gained 15.03% in the past month. In that same time, the Basic Materials sector gained 4.32%, while the S&P 500 lost 6.57%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. On that day, Steel Dynamics is projected to report earnings of $5.27 per share, which would represent year-over-year growth of 150.95%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.17 billion, up 45.79% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $13.58 per share and revenue of $18.24 billion. These results would represent year-over-year changes of -15.6% and -0.9%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 12.81% higher. Steel Dynamics is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 5.3. This represents a premium compared to its industry's average Forward P/E of 4.42.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 35, which puts it in the top 14% 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.