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Steel Dynamics (STLD) Gains As Market Dips: What You Should Know
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Steel Dynamics (STLD - Free Report) closed at $98.79 in the latest trading session, marking a +0.08% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 8.26% over the past month. This has lagged the Basic Materials sector's loss of 4.04% and the S&P 500's loss of 5.25% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. On that day, Steel Dynamics is projected to report earnings of $3.34 per share, which would represent a year-over-year decline of 42.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.73 billion, down 10.89% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.05% higher. Steel Dynamics currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 10.24 right now. This represents a premium compared to its industry's average Forward P/E of 9.93.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Steel Dynamics (STLD) Gains As Market Dips: What You Should Know
Steel Dynamics (STLD - Free Report) closed at $98.79 in the latest trading session, marking a +0.08% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 8.26% over the past month. This has lagged the Basic Materials sector's loss of 4.04% and the S&P 500's loss of 5.25% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. On that day, Steel Dynamics is projected to report earnings of $3.34 per share, which would represent a year-over-year decline of 42.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.73 billion, down 10.89% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.05% higher. Steel Dynamics currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 10.24 right now. This represents a premium compared to its industry's average Forward P/E of 9.93.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.