VALE S.A. (VALE) Ascends But Remains Behind Market: Some Facts to Note
The most recent trading session ended with VALE S.A. (VALE) standing at $13.25, reflecting a +0.68% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.96% for the day. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 1.3%.
The company's shares have seen a decrease of 8.04% over the last month, not keeping up with the Basic Materials sector's loss of 4.97% and the S&P 500's gain of 3.69%.
Analysts and investors alike will be keeping a close eye on the performance of VALE S.A. in its upcoming earnings disclosure. The company's earnings report is set to go public on February 22, 2024. It is anticipated that the company will report an EPS of $1.04, marking a 26.83% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.95 billion, up 8.44% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for VALE S.A. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, there's been a 2.01% rise in the Zacks Consensus EPS estimate. VALE S.A. is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, VALE S.A. is currently being traded at a Forward P/E ratio of 4.73. For comparison, its industry has an average Forward P/E of 8.4, which means VALE S.A. is trading at a discount to the group.
The Mining - Iron industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 1, positioning it in the top 1% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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VALE S.A. (VALE) : Free Stock Analysis Report
