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Steel Dynamics (STLD) Stock Sinks As Market Gains: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $64.41 in the latest trading session, marking a -0.14% move from the prior day. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 24.84% over the past month. This has was narrower than the Basic Materials sector's loss of 25.75% and lagged the S&P 500's loss of 6.59% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $5.97 billion, up 33.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.84 per share and revenue of $22.65 billion, which would represent changes of +23.31% and +23.02%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 7.81% lower within the past month. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.25 right now. This valuation marks a premium compared to its industry's average Forward P/E of 2.59.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Steel Dynamics (STLD) Stock Sinks As Market Gains: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $64.41 in the latest trading session, marking a -0.14% move from the prior day. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 24.84% over the past month. This has was narrower than the Basic Materials sector's loss of 25.75% and lagged the S&P 500's loss of 6.59% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $5.97 billion, up 33.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.84 per share and revenue of $22.65 billion, which would represent changes of +23.31% and +23.02%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 7.81% lower within the past month. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 3.25 right now. This valuation marks a premium compared to its industry's average Forward P/E of 2.59.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.