VALE S.A. (VALE) Stock Moves -1.44%: What You Should Know
VALE S.A. (VALE) ended the recent trading session at $13.69, demonstrating a -1.44% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.61%. On the other hand, the Dow registered a loss of 0.82%, and the technology-centric Nasdaq decreased by 2.23%.
The company's stock has dropped by 11.59% in the past month, falling short of the Basic Materials sector's loss of 6.01% and the S&P 500's gain of 3.28%.
Investors will be eagerly watching for the performance of VALE S.A. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 22, 2024. On that day, VALE S.A. is projected to report earnings of $0.91 per share, which would represent year-over-year growth of 10.98%. Meanwhile, the latest consensus estimate predicts the revenue to be $12.5 billion, indicating a 4.65% increase compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for VALE S.A. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, the Zacks Consensus EPS estimate has moved 3.93% lower. VALE S.A. currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, VALE S.A. is currently exchanging hands at a Forward P/E ratio of 5.06. Its industry sports an average Forward P/E of 9.07, so one might conclude that VALE S.A. is trading at a discount comparatively.
The Mining - Iron industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VALE in the coming trading sessions, be sure to utilize Zacks.com.
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VALE S.A. (VALE) : Free Stock Analysis Report
