Steel Dynamics (STLD) closed the most recent trading day at $127.72, moving +1.07% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.12%. Meanwhile, the Dow experienced a rise of 1.14%, and the technology-dominated Nasdaq saw an increase of 1.46%.

Shares of the steel producer and metals recycler witnessed a loss of 0.01% over the previous month, beating the performance of the Basic Materials sector with its loss of 2.76% and the S&P 500's loss of 4.13%.

The upcoming earnings release of Steel Dynamics will be of great interest to investors. In that report, analysts expect Steel Dynamics to post earnings of $1.64 per share. This would mark a year-over-year decline of 55.31%. In the meantime, our current consensus estimate forecasts the revenue to be $4.14 billion, indicating a 11.81% decline compared to the corresponding quarter of the prior year.

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.

It's also important for investors to be aware of any recent modifications to analyst estimates for Steel Dynamics. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.17% higher. Steel Dynamics is currently a Zacks Rank #3 (Hold).

Looking at valuation, Steel Dynamics is presently trading at a Forward P/E ratio of 14.03. This denotes a premium relative to the industry's average Forward P/E of 12.17.

It is also worth noting that STLD currently has a PEG ratio of 0.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Steel - Producers industry had an average PEG ratio of 1.13 as trading concluded yesterday.

The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 13% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Want 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 Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research