Steel Dynamics (STLD) closed the most recent trading day at $119.81, moving +0.99% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq depreciated by 1.89%.

Prior to today's trading, shares of the steel producer and metals recycler had lost 14.18% over the past month. This has lagged the Basic Materials sector's loss of 10.34% and the S&P 500's loss of 1.7% in that time.

Market participants will be closely following the financial results of Steel Dynamics in its upcoming release. The company's upcoming EPS is projected at $1.36, signifying a 47.89% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.97 billion, indicating a 6.21% decline compared to the corresponding quarter of the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Steel Dynamics. These revisions help to show the ever-changing nature 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 3.63% lower. As of now, Steel Dynamics holds a Zacks Rank of #3 (Hold).

With respect to valuation, Steel Dynamics is currently being traded at a Forward P/E ratio of 12.03. This denotes a premium relative to the industry's average Forward P/E of 9.95.

The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 189, this industry ranks in the bottom 25% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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

To read this article on Zacks.com click here.

Zacks Investment Research