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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 the most recent trading day at $129.77, moving +1.96% from the previous trading session. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.
Coming into today, shares of the steel producer and metals recycler had gained 5.38% in the past month. In that same time, the Basic Materials sector lost 2.77%, while the S&P 500 gained 5.11%.
The upcoming earnings release of Steel Dynamics will be of great interest to investors. The company's earnings report is expected on July 17, 2024. The company is expected to report EPS of $2.67, down 44.49% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $4.42 billion, indicating a 13.08% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.64 per share and revenue of $17.79 billion, which would represent changes of -22.14% and -5.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.75% downward. Currently, Steel Dynamics is carrying a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 10.93 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.1.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 206, this industry ranks in the bottom 19% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much 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 the most recent trading day at $129.77, moving +1.96% from the previous trading session. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.
Coming into today, shares of the steel producer and metals recycler had gained 5.38% in the past month. In that same time, the Basic Materials sector lost 2.77%, while the S&P 500 gained 5.11%.
The upcoming earnings release of Steel Dynamics will be of great interest to investors. The company's earnings report is expected on July 17, 2024. The company is expected to report EPS of $2.67, down 44.49% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $4.42 billion, indicating a 13.08% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.64 per share and revenue of $17.79 billion, which would represent changes of -22.14% and -5.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.75% downward. Currently, Steel Dynamics is carrying a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 10.93 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.1.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 206, this industry ranks in the bottom 19% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.