Steel Dynamics (STLD) Increases Despite Market Slip: Here's What You Need to Know

Steel Dynamics (STLD) closed the most recent trading day at $120.76, moving +1.14% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 0.18%.Prior to today's trading, shares of the steel producer and metals recycler had lost 10.14% over the past month. This has lagged the Basic Materials sector's loss of 3.57% and the S&P 500's loss of 7.29% in that time.Market participants will be closely following the financial results of Steel Dynamics in its upcoming release. The company is predicted to post an EPS of $1.64, indicating a 55.31% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.14 billion, down 11.81% from the prior-year quarter.For the full year, the Zacks Consensus Estimates project earnings of $9.01 per share and a revenue of $17.47 billion, demonstrating changes of -8.43% and -0.41%, respectively, from the preceding year.Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, the Zacks Consensus EPS estimate has moved 1.17% higher. Steel Dynamics is holding a Zacks Rank of #3 (Hold) right now.Looking at its valuation, Steel Dynamics is holding a Forward P/E ratio of 13.26. This signifies a premium in comparison to the average Forward P/E of 12 for its industry.We can additionally observe that STLD currently boasts a PEG ratio of 0.93. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Steel - Producers industry had an average PEG ratio of 1.06.The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 217, this industry ranks in the bottom 14% of all industries, numbering over 250.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Steel Dynamics, Inc. (STLD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks