Steel Dynamics (STLD) closed at $123.52 in the latest trading session, marking a +0.2% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq lost 0.23%.

The steel producer and metals recycler's stock has climbed by 1.28% in the past month, exceeding the Basic Materials sector's loss of 7.17% and the S&P 500's loss of 3.45%.

Analysts and investors alike will be keeping a close eye on the performance of Steel Dynamics in its upcoming earnings disclosure. The company's earnings report is set to go public on January 22, 2025. On that day, Steel Dynamics is projected to report earnings of $1.36 per share, which would represent a year-over-year decline of 47.89%. Alongside, our most recent consensus estimate is anticipating revenue of $3.97 billion, indicating a 6.21% downward movement from the same quarter last year.

Any recent changes to analyst estimates for Steel Dynamics should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.04% lower. Currently, Steel Dynamics is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Steel Dynamics has a Forward P/E ratio of 13.11 right now. Its industry sports an average Forward P/E of 9.99, so 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 202, which puts it in the bottom 20% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.

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