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Steel Dynamics (STLD) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $108.74, marking a -1.81% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.45%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.84%.
The steel producer and metals recycler's shares have seen a decrease of 4.51% over the last month, not keeping up with the Basic Materials sector's loss of 0.34% and the S&P 500's gain of 2.54%.
The investment community will be closely monitoring the performance of Steel Dynamics in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.22, reflecting a 36.02% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.3 billion, down 6.28% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.74 per share and revenue of $17.76 billion. These totals would mark changes of -28.16% and -5.53%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.84% lower. As of now, Steel Dynamics holds a Zacks Rank of #3 (Hold).
Looking at valuation, Steel Dynamics is presently trading at a Forward P/E ratio of 10.31. This indicates a discount in contrast to its industry's Forward P/E of 12.35.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Steel Dynamics (STLD) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $108.74, marking a -1.81% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.45%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.84%.
The steel producer and metals recycler's shares have seen a decrease of 4.51% over the last month, not keeping up with the Basic Materials sector's loss of 0.34% and the S&P 500's gain of 2.54%.
The investment community will be closely monitoring the performance of Steel Dynamics in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.22, reflecting a 36.02% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.3 billion, down 6.28% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.74 per share and revenue of $17.76 billion. These totals would mark changes of -28.16% and -5.53%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.84% lower. As of now, Steel Dynamics holds a Zacks Rank of #3 (Hold).
Looking at valuation, Steel Dynamics is presently trading at a Forward P/E ratio of 10.31. This indicates a discount in contrast to its industry's Forward P/E of 12.35.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.