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Steel Dynamics (STLD) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $91.89, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, added 10.45%.
Coming into today, shares of the steel producer and metals recycler had lost 9.8% in the past month. In that same time, the Basic Materials sector lost 7.11%, while the S&P 500 gained 1.05%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. The company is expected to report EPS of $5.12, down 23.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.57 billion, down 10.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.15 per share and revenue of $19.79 billion, which would represent changes of -28.79% and -11.12%, respectively, from the prior year.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.28% higher. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 5.76. This valuation marks a discount compared to its industry's average Forward P/E of 7.7.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.
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Steel Dynamics (STLD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $91.89, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, added 10.45%.
Coming into today, shares of the steel producer and metals recycler had lost 9.8% in the past month. In that same time, the Basic Materials sector lost 7.11%, while the S&P 500 gained 1.05%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. The company is expected to report EPS of $5.12, down 23.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.57 billion, down 10.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.15 per share and revenue of $19.79 billion, which would represent changes of -28.79% and -11.12%, respectively, from the prior year.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.28% higher. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 5.76. This valuation marks a discount compared to its industry's average Forward P/E of 7.7.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.