In the latest trading session, Steel Dynamics (STLD) closed at $175.38, marking a -1.03% move from the previous day. This change lagged the S&P 500’s 0.32% gain on the day. On the other hand, the Dow registered a gain of 0.6%, and the technology-centric Nasdaq increased by 0.22%.
Heading into today, shares of the steel producer and metals recycler had gained 7.88% over the past month, lagging the Basic Materials sector’s gain of 12.69% and outpacing the S&P 500’s gain of 4.7%.
Analysts and investors alike will be keeping a close eye on the performance of Steel Dynamics in its upcoming earnings disclosure. In that report, analysts expect Steel Dynamics to post earnings of $2.09 per share. This would mark year-over-year growth of 53.68%. Meanwhile, our latest consensus estimate is calling for revenue of $4.58 billion, up 18.39% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.27 per share and a revenue of $18.36 billion, signifying shifts of -15.96% and +4.66%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.48% lower. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Steel Dynamics is presently being traded at a Forward P/E ratio of 21.42. This expresses a premium compared to the average Forward P/E of 13.66 of its industry.
We can additionally observe that STLD currently boasts a PEG ratio of 1.2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.8 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Steel Dynamics, Inc. (STLD) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
