Acerinox (ANIOY) closed at $4.65 in the latest trading session, marking a +1.01% move from the prior day. This change outpaced the S&P 500's 1.15% loss on the day. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.13%.
Coming into today, shares of the company had lost 12.31% in the past month. In that same time, the Basic Materials sector lost 7.87%, while the S&P 500 gained 1.44%.
Acerinox will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $2.41 billion, up 22.9% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.57 per share and revenue of $8.68 billion, which would represent changes of +25.6% and +9.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Acerinox. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.08% lower. Acerinox is currently a Zacks Rank #4 (Sell).
In terms of valuation, Acerinox is currently trading at a Forward P/E ratio of 2.94. This represents a no noticeable deviation compared to its industry's average Forward P/E of 2.94.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 11% 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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