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) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Steel Dynamics (STLD - Free Report) closed at $77.38 in the latest trading session, marking a +0.38% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.79%. At the same time, the Dow lost 0.53%, and the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the steel producer and metals recycler had gained 30.95% over the past month. This has outpaced the Basic Materials sector's gain of 10.43% and the S&P 500's loss of 2.43% 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 $5.27, up 150.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.19 billion, up 46.37% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $12.21 per share and revenue of $17.87 billion. These results would represent year-over-year changes of -24.11% and -2.93%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.41% higher within the past month. Steel Dynamics currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 6.31. Its industry sports an average Forward P/E of 4.87, so we one might conclude that Steel Dynamics is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Steel Dynamics (STLD) Gains As Market Dips: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $77.38 in the latest trading session, marking a +0.38% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.79%. At the same time, the Dow lost 0.53%, and the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the steel producer and metals recycler had gained 30.95% over the past month. This has outpaced the Basic Materials sector's gain of 10.43% and the S&P 500's loss of 2.43% 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 $5.27, up 150.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.19 billion, up 46.37% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $12.21 per share and revenue of $17.87 billion. These results would represent year-over-year changes of -24.11% and -2.93%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.41% higher within the past month. Steel Dynamics currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Steel Dynamics is currently trading at a Forward P/E ratio of 6.31. Its industry sports an average Forward P/E of 4.87, so we one might conclude that Steel Dynamics is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% 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.