Steel Dynamics Falls 1.4% Ahead of Its Next Earnings Report
The steelmaker fell more than major U.S. indexes, while Zacks’ quarterly consensus calls for sharp year-over-year earnings and revenue growth.
Steel Dynamics fell 1.4% to close at $230.39 in the latest session, a steeper decline than the S&P 500’s 0.77% drop. The Dow lost 0.67%, while the Nasdaq fell 0.92%.
The steel producer and metals recycler has slipped 0.43% over the past month. That was a smaller decline than the Basic Materials sector’s 9.1% loss, while the S&P 500 gained 0.96% over that period.
Zacks says analysts expect Steel Dynamics to report quarterly earnings of $5.64 per share, up 105.84% year over year. Its consensus revenue estimate is $6.21 billion, a projected increase of 28.6%.
For the full fiscal year, Zacks consensus estimates call for earnings of $17.95 per share and revenue of $23.55 billion. Those would be increases of 124.66% and 29.55%, respectively, from the prior year. The consensus earnings estimate has risen 6.03% in the past 30 days, according to Zacks.
Zacks lists the stock’s forward price-to-earnings ratio at 13.02, below the steel producers industry average of 13.77.
This article was produced with the help of AI technology.
Source: Yahoo Finance
