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) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $105.58, marking a -1.6% move from the previous day. This change lagged the S&P 500's 0.42% loss on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the steel producer and metals recycler had gained 2.72% over the past month. This has outpaced the Basic Materials sector's gain of 0.41% and the S&P 500's gain of 1.02% in that time.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. The company is expected to report EPS of $4.01, down 26.56% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.82 billion, down 14.63% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $15.51 per share and revenue of $19.1 billion. These results would represent year-over-year changes of -31.61% and -14.2%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.63% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 6.92. This represents a discount compared to its industry's average Forward P/E of 9.39.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.
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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $105.58, marking a -1.6% move from the previous day. This change lagged the S&P 500's 0.42% loss on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the steel producer and metals recycler had gained 2.72% over the past month. This has outpaced the Basic Materials sector's gain of 0.41% and the S&P 500's gain of 1.02% in that time.
Investors will be hoping for strength from Steel Dynamics as it approaches its next earnings release. The company is expected to report EPS of $4.01, down 26.56% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.82 billion, down 14.63% from the year-ago period.
STLD's full-year Zacks Consensus Estimates are calling for earnings of $15.51 per share and revenue of $19.1 billion. These results would represent year-over-year changes of -31.61% and -14.2%, respectively.
Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.63% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 6.92. This represents a discount compared to its industry's average Forward P/E of 9.39.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.