Steel Dynamics (STLD) stock closed at $118.80, up 0.65%, but earnings and revenue forecast to decline.

From Nasdaq: 2024-08-29 18:15:09

Steel Dynamics (STLD) closed at $118.80, up 0.65% from the previous day. Stock dropped 11.4% in the past month, underperforming the Basic Materials sector and the S&P 500. Earnings forecasted at $2.22 per share, a 36.02% decrease from last year. Revenue expected to decline by 6.28% to $4.3 billion.

Analysts predict full-year earnings of $10.74 per share for Steel Dynamics, a -28.16% change from the previous year. Revenue estimated to drop by 5.53% to $17.76 billion. Recent estimate changes can indicate evolving business trends and may impact stock prices. Zacks Rank currently holds STLD at #3 (Hold).

Steel Dynamics is trading at a Forward P/E ratio of 10.99, lower than the industry average of 12.57. Industry Rank is at 191 out of 250+ industries. Industries in the top 50% on Zacks Industry Rank typically outperform the lower half by 2 to 1. Utilize Zacks.com to track these metrics and more.

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Read more at Nasdaq: Steel Dynamics (STLD) Stock Moves 0.65%: What You Should Know