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Steel Dynamics (STLD) Stock Moves -0.07%: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $103.22 in the latest trading session, marking a -0.07% move from the prior day. This change was narrower than the S&P 500's 0.25% loss on the day. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Heading into today, shares of the steel producer and metals recycler had lost 21.15% over the past month, lagging the Basic Materials sector's loss of 2.72% and the S&P 500's gain of 1.48% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. On that day, Steel Dynamics is projected to report earnings of $3.71 per share, which would represent a year-over-year decline of 38.37%. Meanwhile, our latest consensus estimate is calling for revenue of $4.93 billion, down 11.48% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.20 per share and revenue of $19.58 billion. These totals would mark changes of -32.98% and -12.06%, respectively, from last year.
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. 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. The Zacks Consensus EPS estimate has moved 16.97% higher within the past month. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 6.79. For comparison, its industry has an average Forward P/E of 8.86, which means Steel Dynamics is trading at a discount to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.
View the Zacks #1 Rank List
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Steel Dynamics (STLD) Stock Moves -0.07%: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $103.22 in the latest trading session, marking a -0.07% move from the prior day. This change was narrower than the S&P 500's 0.25% loss on the day. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Heading into today, shares of the steel producer and metals recycler had lost 21.15% over the past month, lagging the Basic Materials sector's loss of 2.72% and the S&P 500's gain of 1.48% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. On that day, Steel Dynamics is projected to report earnings of $3.71 per share, which would represent a year-over-year decline of 38.37%. Meanwhile, our latest consensus estimate is calling for revenue of $4.93 billion, down 11.48% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.20 per share and revenue of $19.58 billion. These totals would mark changes of -32.98% and -12.06%, respectively, from last year.
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. 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. The Zacks Consensus EPS estimate has moved 16.97% higher within the past month. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 6.79. For comparison, its industry has an average Forward P/E of 8.86, which means Steel Dynamics is trading at a discount to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.