We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Steel Dynamics (STLD) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Steel Dynamics (STLD - Free Report) closed at $108.91 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.23%. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq lost 2.24%.
Coming into today, shares of the steel producer and metals recycler had gained 18.41% in the past month. In that same time, the Basic Materials sector gained 5.3%, while the S&P 500 gained 4.67%.
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 $4.98 per share. This would mark a year-over-year decline of 26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.41 billion, down 12.98% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $16.04 per share and revenue of $19.94 billion. These results would represent year-over-year changes of -29.28% and -10.44%, 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. 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.
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 2.42% higher within the past month. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 6.81 right now. For comparison, its industry has an average Forward P/E of 8.39, which means Steel Dynamics is trading at a discount to the group.
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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Steel Dynamics (STLD) Stock Sinks As Market Gains: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $108.91 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.23%. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq lost 2.24%.
Coming into today, shares of the steel producer and metals recycler had gained 18.41% in the past month. In that same time, the Basic Materials sector gained 5.3%, while the S&P 500 gained 4.67%.
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 $4.98 per share. This would mark a year-over-year decline of 26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.41 billion, down 12.98% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $16.04 per share and revenue of $19.94 billion. These results would represent year-over-year changes of -29.28% and -10.44%, 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. 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.
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 2.42% higher within the past month. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 6.81 right now. For comparison, its industry has an average Forward P/E of 8.39, which means Steel Dynamics is trading at a discount to the group.
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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.