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Steel Dynamics (STLD) Stock Moves -0.1%: What You Should Know

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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $62.34, marking a -0.1% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.48%, and the tech-heavy Nasdaq lost 0.2%.

Heading into today, shares of the steel producer and metals recycler had lost 1.9% over the past month, lagging the Basic Materials sector's loss of 1.08% and the S&P 500's loss of 0.62% in that time.

Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. The company is expected to report EPS of $5.80, up 497.94% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.29 billion, up 103.37% from the prior-year quarter.

STLD's full-year Zacks Consensus Estimates are calling for earnings of $16.22 per share and revenue of $18.37 billion. These results would represent year-over-year changes of +471.13% and +91.37%, respectively.

Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. 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 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.08% lower. Steel Dynamics is currently a Zacks Rank #3 (Hold).

Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 3.85. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 3.85.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 21% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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