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Steel Dynamics (STLD) Stock Moves -0.09%: What You Should Know
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $106.21, marking a -0.09% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.37%. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 1.87%.
Coming into today, shares of the steel producer and metals recycler had lost 0.92% in the past month. In that same time, the Basic Materials sector lost 6.57%, while the S&P 500 lost 4.93%.
Steel Dynamics will be looking to display strength as it nears its next earnings release, which is expected to be October 18, 2023. On that day, Steel Dynamics is projected to report earnings of $3.68 per share, which would represent a year-over-year decline of 32.6%. Our most recent consensus estimate is calling for quarterly revenue of $4.71 billion, down 16.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.76 per share and revenue of $18.93 billion. These totals would mark changes of -34.92% and -14.96%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of 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. 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, 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 3.08% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 7.2. This valuation marks a discount compared to its industry's average Forward P/E of 8.26.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% 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) Stock Moves -0.09%: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $106.21, marking a -0.09% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.37%. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 1.87%.
Coming into today, shares of the steel producer and metals recycler had lost 0.92% in the past month. In that same time, the Basic Materials sector lost 6.57%, while the S&P 500 lost 4.93%.
Steel Dynamics will be looking to display strength as it nears its next earnings release, which is expected to be October 18, 2023. On that day, Steel Dynamics is projected to report earnings of $3.68 per share, which would represent a year-over-year decline of 32.6%. Our most recent consensus estimate is calling for quarterly revenue of $4.71 billion, down 16.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.76 per share and revenue of $18.93 billion. These totals would mark changes of -34.92% and -14.96%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of 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. 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, 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 3.08% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 7.2. This valuation marks a discount compared to its industry's average Forward P/E of 8.26.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% 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.