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Steel Dynamics (STLD) Stock Moves 1.59%: What You Should Know
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $108.01, marking a +1.59% move from the previous day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 1.92%.
Heading into today, shares of the steel producer and metals recycler had lost 9.19% over the past month, lagging the Basic Materials sector's gain of 2.71% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release, which is expected to be April 19, 2023. On that day, Steel Dynamics is projected to report earnings of $3.81 per share, which would represent a year-over-year decline of 36.71%. Our most recent consensus estimate is calling for quarterly revenue of $4.93 billion, down 11.48% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $15.85 per share and revenue of $19.74 billion. These results would represent year-over-year changes of -30.11% and -11.32%, respectively.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-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. Within the past 30 days, our consensus EPS projection has moved 21.92% higher. Steel Dynamics is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 6.71. This valuation marks a discount compared to its industry's average Forward P/E of 7.49.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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) Stock Moves 1.59%: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $108.01, marking a +1.59% move from the previous day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 1.92%.
Heading into today, shares of the steel producer and metals recycler had lost 9.19% over the past month, lagging the Basic Materials sector's gain of 2.71% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release, which is expected to be April 19, 2023. On that day, Steel Dynamics is projected to report earnings of $3.81 per share, which would represent a year-over-year decline of 36.71%. Our most recent consensus estimate is calling for quarterly revenue of $4.93 billion, down 11.48% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $15.85 per share and revenue of $19.74 billion. These results would represent year-over-year changes of -30.11% and -11.32%, respectively.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-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. Within the past 30 days, our consensus EPS projection has moved 21.92% higher. Steel Dynamics is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 6.71. This valuation marks a discount compared to its industry's average Forward P/E of 7.49.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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.