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Steel Dynamics (STLD) Stock Moves -0.73%: What You Should Know

Steel Dynamics (STLD) closed at $69.68 in the latest trading session, marking a -0.73% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, added 0.02%.

Heading into today, shares of the steel producer and metals recycler had lost 19.2% over the past month, lagging the Basic Materials sector's loss of 12.31% and the S&P 500's loss of 10.4% in that time.

Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. On that day, Steel Dynamics is projected to report earnings of $4.98 per share, which would represent year-over-year growth of 0.4%. Our most recent consensus estimate is calling for quarterly revenue of $5.49 billion, up 7.81% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 remained stagnant. Steel Dynamics currently has a Zacks Rank of #4 (Sell).

Digging into valuation, Steel Dynamics currently has a Forward P/E ratio of 3.29. Its industry sports an average Forward P/E of 2.67, so we one might conclude that Steel Dynamics is trading at a premium comparatively.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% 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 STLD in the coming trading sessions, be sure to utilize Zacks.com.


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