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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 $101.05, marking a -1.79% move from the previous day. This move lagged the S&P 500's daily loss of 1.35%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 0.84% over the past month. This has was narrower than the Basic Materials sector's loss of 2.77% and the S&P 500's loss of 2.06% in that time.
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 $4.15, down 23.99% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.82 billion, down 14.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.93 per share and revenue of $19.1 billion. These totals would mark changes of -29.76% and -14.2%, respectively, from last 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. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.04% lower. Steel Dynamics is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 6.46 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.34.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on 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 $101.05, marking a -1.79% move from the previous day. This move lagged the S&P 500's daily loss of 1.35%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 0.84% over the past month. This has was narrower than the Basic Materials sector's loss of 2.77% and the S&P 500's loss of 2.06% in that time.
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 $4.15, down 23.99% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.82 billion, down 14.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.93 per share and revenue of $19.1 billion. These totals would mark changes of -29.76% and -14.2%, respectively, from last 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. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.04% lower. Steel Dynamics is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 6.46 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.34.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.