Yahoo Finance Steel Dynamics (STLD) Outpaces Stock Market Gains: What You Should Know
Steel Dynamics (STLD) closed the most recent trading day at $99.30, moving +1.66% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.24%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.73%.
Prior to today's trading, shares of the steel producer and metals recycler had lost 0.2% over the past month. This has was narrower than the Basic Materials sector's loss of 3.21% and lagged the S&P 500's gain of 3.56% in that time.
Steel Dynamics will be looking to display strength as it nears its next earnings release. In that report, analysts expect Steel Dynamics to post earnings of $5.12 per share. This would mark a year-over-year decline of 23.92%. Meanwhile, our latest consensus estimate is calling for revenue of $5.57 billion, down 10.36% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.15 per share and revenue of $19.79 billion. These totals would mark changes of -28.79% and -11.12%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. Steel Dynamics currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 6.05. This valuation marks a discount compared to its industry's average Forward P/E of 7.03.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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, Inc. (STLD) : Free Stock Analysis Report
