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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 $66.15, marking a -1.02% move from the previous day. This change lagged the S&P 500's 0.88% loss on the day. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the steel producer and metals recycler had lost 20.41% in the past month. In that same time, the Basic Materials sector lost 16.65%, while the S&P 500 lost 8.06%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.62 per share. This would mark year-over-year growth of 65.29%. Our most recent consensus estimate is calling for quarterly revenue of $5.97 billion, up 33.76% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $19.84 per share and revenue of $22.65 billion. These results would represent year-over-year changes of +23.31% and +23.02%, respectively.
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. 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. Within the past 30 days, our consensus EPS projection has moved 7.81% lower. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.37 right now. This represents a premium compared to its industry's average Forward P/E of 2.75.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $66.15, marking a -1.02% move from the previous day. This change lagged the S&P 500's 0.88% loss on the day. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the steel producer and metals recycler had lost 20.41% in the past month. In that same time, the Basic Materials sector lost 16.65%, while the S&P 500 lost 8.06%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.62 per share. This would mark year-over-year growth of 65.29%. Our most recent consensus estimate is calling for quarterly revenue of $5.97 billion, up 33.76% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $19.84 per share and revenue of $22.65 billion. These results would represent year-over-year changes of +23.31% and +23.02%, respectively.
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. 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. Within the past 30 days, our consensus EPS projection has moved 7.81% lower. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.37 right now. This represents a premium compared to its industry's average Forward P/E of 2.75.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.