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Steel Dynamics (STLD) Registers a Bigger Fall Than the Market: Important Facts to Note
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Steel Dynamics (STLD - Free Report) ended the recent trading session at $123.34, demonstrating a -1.07% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.19%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq added 0.04%.
Heading into today, shares of the steel producer and metals recycler had gained 2.69% over the past month, lagging the Basic Materials sector's gain of 3.7% and outpacing the S&P 500's gain of 1.95% in that time.
Investors will be eagerly watching for the performance of Steel Dynamics in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 16, 2024. The company is predicted to post an EPS of $1.94, indicating a 44.09% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.25 billion, down 7.35% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.32 per share and a revenue of $17.64 billion, demonstrating changes of -30.97% and -6.16%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 3.93% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 12.09 right now. Its industry sports an average Forward P/E of 12.09, so one might conclude that Steel Dynamics is trading at no noticeable deviation comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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Steel Dynamics (STLD) Registers a Bigger Fall Than the Market: Important Facts to Note
Steel Dynamics (STLD - Free Report) ended the recent trading session at $123.34, demonstrating a -1.07% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.19%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq added 0.04%.
Heading into today, shares of the steel producer and metals recycler had gained 2.69% over the past month, lagging the Basic Materials sector's gain of 3.7% and outpacing the S&P 500's gain of 1.95% in that time.
Investors will be eagerly watching for the performance of Steel Dynamics in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 16, 2024. The company is predicted to post an EPS of $1.94, indicating a 44.09% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.25 billion, down 7.35% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.32 per share and a revenue of $17.64 billion, demonstrating changes of -30.97% and -6.16%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 3.93% lower. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 12.09 right now. Its industry sports an average Forward P/E of 12.09, so one might conclude that Steel Dynamics is trading at no noticeable deviation comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.