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Steel Dynamics (STLD) Increases Despite Market Slip: Here's What You Need to Know
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Steel Dynamics (STLD - Free Report) closed at $275.13 in the latest trading session, marking a +1.37% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.74%. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.89%.
The steel producer and metals recycler's shares have seen an increase of 14.3% over the last month, surpassing the Basic Materials sector's gain of 5.01% and the S&P 500's gain of 5.39%.
Analysts and investors alike will be keeping a close eye on the performance of Steel Dynamics in its upcoming earnings disclosure. On that day, Steel Dynamics is projected to report earnings of $4.14 per share, which would represent year-over-year growth of 105.97%. Our most recent consensus estimate is calling for quarterly revenue of $5.5 billion, up 20.55% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $14.77 per share and revenue of $21.4 billion. These results would represent year-over-year changes of +84.86% and +17.73%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Steel Dynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Steel Dynamics boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 18.37 right now. This expresses a premium compared to the average Forward P/E of 16.02 of its industry.
It's also important to note that STLD currently trades at a PEG ratio of 0.58. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Steel - Producers industry stood at 0.58 at the close of the market yesterday.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 77, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Steel Dynamics (STLD) Increases Despite Market Slip: Here's What You Need to Know
Steel Dynamics (STLD - Free Report) closed at $275.13 in the latest trading session, marking a +1.37% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.74%. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.89%.
The steel producer and metals recycler's shares have seen an increase of 14.3% over the last month, surpassing the Basic Materials sector's gain of 5.01% and the S&P 500's gain of 5.39%.
Analysts and investors alike will be keeping a close eye on the performance of Steel Dynamics in its upcoming earnings disclosure. On that day, Steel Dynamics is projected to report earnings of $4.14 per share, which would represent year-over-year growth of 105.97%. Our most recent consensus estimate is calling for quarterly revenue of $5.5 billion, up 20.55% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $14.77 per share and revenue of $21.4 billion. These results would represent year-over-year changes of +84.86% and +17.73%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Steel Dynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Steel Dynamics boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 18.37 right now. This expresses a premium compared to the average Forward P/E of 16.02 of its industry.
It's also important to note that STLD currently trades at a PEG ratio of 0.58. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Steel - Producers industry stood at 0.58 at the close of the market yesterday.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 77, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.