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Steel Dynamics (STLD) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $84.20, marking a -1.15% move from the previous day. This change lagged the S&P 500's daily gain of 1.13%. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Heading into today, shares of the steel producer and metals recycler had gained 33.2% over the past month, outpacing the Basic Materials sector's gain of 10.29% and the S&P 500's gain of 2.65% in that time.
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 $5.48 per share, which would represent year-over-year growth of 160.95%. Meanwhile, our latest consensus estimate is calling for revenue of $5.24 billion, up 47.79% from the prior-year quarter.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $14.93 per share and revenue of $18.9 billion. These results would represent year-over-year changes of -7.21% and +2.68%, 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. 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 22.29% higher within the past month. Steel Dynamics is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 5.7 right now. For comparison, its industry has an average Forward P/E of 4.46, which means Steel Dynamics is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Steel Dynamics (STLD) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $84.20, marking a -1.15% move from the previous day. This change lagged the S&P 500's daily gain of 1.13%. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Heading into today, shares of the steel producer and metals recycler had gained 33.2% over the past month, outpacing the Basic Materials sector's gain of 10.29% and the S&P 500's gain of 2.65% in that time.
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 $5.48 per share, which would represent year-over-year growth of 160.95%. Meanwhile, our latest consensus estimate is calling for revenue of $5.24 billion, up 47.79% from the prior-year quarter.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $14.93 per share and revenue of $18.9 billion. These results would represent year-over-year changes of -7.21% and +2.68%, 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. 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 22.29% higher within the past month. Steel Dynamics is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 5.7 right now. For comparison, its industry has an average Forward P/E of 4.46, which means Steel Dynamics is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.