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Steel Dynamics (STLD) Stock Moves -0.62%: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $83.64 in the latest trading session, marking a -0.62% move from the prior day. This change was narrower than the S&P 500's 0.63% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the steel producer and metals recycler had gained 16.61% in the past month. In that same time, the Basic Materials sector gained 9.2%, while the S&P 500 gained 6.02%.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $5.51 per share. This would mark year-over-year growth of 162.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.23 billion, up 47.67% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $15.74 per share and revenue of $19.67 billion. These results would represent year-over-year changes of -2.18% and +6.86%, respectively.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 28.91% higher. 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 5.35. Its industry sports an average Forward P/E of 4.53, 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 35, which puts it in the top 14% 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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.
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Steel Dynamics (STLD) Stock Moves -0.62%: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $83.64 in the latest trading session, marking a -0.62% move from the prior day. This change was narrower than the S&P 500's 0.63% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the steel producer and metals recycler had gained 16.61% in the past month. In that same time, the Basic Materials sector gained 9.2%, while the S&P 500 gained 6.02%.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $5.51 per share. This would mark year-over-year growth of 162.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.23 billion, up 47.67% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $15.74 per share and revenue of $19.67 billion. These results would represent year-over-year changes of -2.18% and +6.86%, respectively.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 28.91% higher. 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 5.35. Its industry sports an average Forward P/E of 4.53, 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 35, which puts it in the top 14% 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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.