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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 the most recent trading day at $102.11, moving +1.12% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the steel producer and metals recycler had gained 5.36% over the past month, outpacing the Basic Materials sector's gain of 1.55% and the S&P 500's gain of 4.86% in that time.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. On that day, Steel Dynamics is projected to report earnings of $5.10 per share, which would represent a year-over-year decline of 24.22%. Our most recent consensus estimate is calling for quarterly revenue of $5.56 billion, down 10.54% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $16.12 per share and revenue of $19.78 billion. These results would represent year-over-year changes of -28.92% and -11.16%, respectively.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 1.82% lower within the past month. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 6.27 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.42.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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) Gains As Market Dips: What You Should Know
Steel Dynamics (STLD - Free Report) closed the most recent trading day at $102.11, moving +1.12% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the steel producer and metals recycler had gained 5.36% over the past month, outpacing the Basic Materials sector's gain of 1.55% and the S&P 500's gain of 4.86% in that time.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. On that day, Steel Dynamics is projected to report earnings of $5.10 per share, which would represent a year-over-year decline of 24.22%. Our most recent consensus estimate is calling for quarterly revenue of $5.56 billion, down 10.54% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $16.12 per share and revenue of $19.78 billion. These results would represent year-over-year changes of -28.92% and -11.16%, respectively.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 1.82% lower within the past month. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 6.27 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.42.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.