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Steel Dynamics (STLD) Gains As Market Dips: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $69.29 in the latest trading session, marking a +0.58% move from the prior day. This change outpaced the S&P 500's 0.3% loss on the day. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq lost 0.11%.
Coming into today, shares of the steel producer and metals recycler had lost 21.53% in the past month. In that same time, the Basic Materials sector lost 12.25%, while the S&P 500 lost 0.62%.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $5.62 per share. This would mark year-over-year growth of 65.29%. Meanwhile, our latest consensus estimate is calling for revenue of $5.97 billion, up 33.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.84 per share and revenue of $22.65 billion, which would represent changes of +23.31% and +23.02%, respectively, from the prior year.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 7.81% lower. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 3.47. This valuation marks a premium compared to its industry's average Forward P/E of 2.81.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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
Steel Dynamics (STLD - Free Report) closed at $69.29 in the latest trading session, marking a +0.58% move from the prior day. This change outpaced the S&P 500's 0.3% loss on the day. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq lost 0.11%.
Coming into today, shares of the steel producer and metals recycler had lost 21.53% in the past month. In that same time, the Basic Materials sector lost 12.25%, while the S&P 500 lost 0.62%.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $5.62 per share. This would mark year-over-year growth of 65.29%. Meanwhile, our latest consensus estimate is calling for revenue of $5.97 billion, up 33.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.84 per share and revenue of $22.65 billion, which would represent changes of +23.31% and +23.02%, respectively, from the prior year.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 7.81% lower. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 3.47. This valuation marks a premium compared to its industry's average Forward P/E of 2.81.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.