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Steel Dynamics (STLD) Stock Moves -1.89%: What You Should Know

·3 min read

In the latest trading session, Steel Dynamics (STLD) closed at $81.91, marking a -1.89% move from the previous day. This move was narrower than the S&P 500's daily loss of 4.32%. Elsewhere, the Dow lost 3.94%, while the tech-heavy Nasdaq lost 0.34%.

Coming into today, shares of the steel producer and metals recycler had lost 0.07% in the past month. In that same time, the Basic Materials sector lost 1.06%, while the S&P 500 lost 3.75%.

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 $4.86, down 2.02% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.48 billion, up 7.62% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.33 per share and revenue of $21.86 billion. These totals would mark changes of +32.57% and +18.74%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Steel Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 1.23% higher. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Steel Dynamics's current valuation metrics, including its Forward P/E ratio of 3.92. This valuation marks a premium compared to its industry's average Forward P/E of 2.97.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% 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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