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Steel Dynamics (STLD) Gains But Lags Market: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $105.96 in the latest trading session, marking a +1.21% move from the prior day. This change lagged the S&P 500's 1.22% gain on the day. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 4.63%.
Heading into today, shares of the steel producer and metals recycler had gained 8.32% over the past month, outpacing the Basic Materials sector's gain of 2.96% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.10 per share. This would mark a year-over-year decline of 24.22%. Our most recent consensus estimate is calling for quarterly revenue of $5.57 billion, down 10.36% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $16.12 per share and revenue of $19.79 billion. These results would represent year-over-year changes of -28.92% and -11.12%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 1.82% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 6.5. This valuation marks a discount compared to its industry's average Forward P/E of 8.38.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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 But Lags Market: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $105.96 in the latest trading session, marking a +1.21% move from the prior day. This change lagged the S&P 500's 1.22% gain on the day. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 4.63%.
Heading into today, shares of the steel producer and metals recycler had gained 8.32% over the past month, outpacing the Basic Materials sector's gain of 2.96% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.10 per share. This would mark a year-over-year decline of 24.22%. Our most recent consensus estimate is calling for quarterly revenue of $5.57 billion, down 10.36% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $16.12 per share and revenue of $19.79 billion. These results would represent year-over-year changes of -28.92% and -11.12%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 1.82% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 6.5. This valuation marks a discount compared to its industry's average Forward P/E of 8.38.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.