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) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Steel Dynamics (STLD - Free Report) closed the most recent trading day at $106.42, moving -0.14% from the previous trading session. This move lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the steel producer and metals recycler had lost 0.4% over the past month, outpacing the Basic Materials sector's loss of 3.29% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.82 billion, down 14.63% from the year-ago period.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.04% lower. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Investors should also note Steel Dynamics's current valuation metrics, including its Forward P/E ratio of 6.69. This represents a discount compared to its industry's average Forward P/E of 8.47.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 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.
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) Stock Sinks As Market Gains: What You Should Know
Steel Dynamics (STLD - Free Report) closed the most recent trading day at $106.42, moving -0.14% from the previous trading session. This move lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the steel producer and metals recycler had lost 0.4% over the past month, outpacing the Basic Materials sector's loss of 3.29% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.82 billion, down 14.63% from the year-ago period.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.04% lower. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Investors should also note Steel Dynamics's current valuation metrics, including its Forward P/E ratio of 6.69. This represents a discount compared to its industry's average Forward P/E of 8.47.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.