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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 $81.03 in the latest trading session, marking a +0.97% move from the prior day. This change outpaced the S&P 500's 0.22% loss on the day. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the steel producer and metals recycler had gained 14.64% in the past month. In that same time, the Basic Materials sector gained 6.39%, while the S&P 500 gained 4.59%.
Steel Dynamics will be looking to display strength as it nears its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $4.84 per share. This would mark a year-over-year decline of 2.42%. Our most recent consensus estimate is calling for quarterly revenue of $5.43 billion, up 6.68% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $21.33 per share and revenue of $21.82 billion. These results would represent year-over-year changes of +32.57% and +18.5%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. 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. 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 1.77% higher. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.76 right now. This represents a premium compared to its industry's average Forward P/E of 2.95.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 16% 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.
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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Steel Dynamics (STLD) Gains As Market Dips: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $81.03 in the latest trading session, marking a +0.97% move from the prior day. This change outpaced the S&P 500's 0.22% loss on the day. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the steel producer and metals recycler had gained 14.64% in the past month. In that same time, the Basic Materials sector gained 6.39%, while the S&P 500 gained 4.59%.
Steel Dynamics will be looking to display strength as it nears its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $4.84 per share. This would mark a year-over-year decline of 2.42%. Our most recent consensus estimate is calling for quarterly revenue of $5.43 billion, up 6.68% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $21.33 per share and revenue of $21.82 billion. These results would represent year-over-year changes of +32.57% and +18.5%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. 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. 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 1.77% higher. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.76 right now. This represents a premium compared to its industry's average Forward P/E of 2.95.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.