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Steel Dynamics (STLD) Dips More Than Broader Markets: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $104.02 in the latest trading session, marking a -1.17% move from the prior day. This move lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Prior to today's trading, shares of the steel producer and metals recycler had gained 3.83% over the past month. This has outpaced the Basic Materials sector's gain of 1.43% and lagged the S&P 500's gain of 4.16% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release, which is expected to be July 19, 2023. In that report, analysts expect Steel Dynamics to post earnings of $4.81 per share. This would mark a year-over-year decline of 28.53%. Meanwhile, our latest consensus estimate is calling for revenue of $5.41 billion, down 12.98% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.73 per share and revenue of $19.94 billion, which would represent changes of -35.05% and -10.44%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection has moved 2.42% higher. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 7.15. This represents a discount compared to its industry's average Forward P/E of 8.54.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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) Dips More Than Broader Markets: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $104.02 in the latest trading session, marking a -1.17% move from the prior day. This move lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Prior to today's trading, shares of the steel producer and metals recycler had gained 3.83% over the past month. This has outpaced the Basic Materials sector's gain of 1.43% and lagged the S&P 500's gain of 4.16% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release, which is expected to be July 19, 2023. In that report, analysts expect Steel Dynamics to post earnings of $4.81 per share. This would mark a year-over-year decline of 28.53%. Meanwhile, our latest consensus estimate is calling for revenue of $5.41 billion, down 12.98% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.73 per share and revenue of $19.94 billion, which would represent changes of -35.05% and -10.44%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection has moved 2.42% higher. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 7.15. This represents a discount compared to its industry's average Forward P/E of 8.54.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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.