Published on 23 Nov 2022 on Zacks via Yahoo Finance
Steel Dynamics, Inc. (STLD) Hits Fresh High: Is There Still Room to Run?
Have you been paying attention to shares of Steel Dynamics (STLD)? Shares have been on the move with the stock up 7% over the past month. The stock hit a new 52-week high of $104 in the previous session. Steel Dynamics has gained 66% since the start of the year compared to the -4.2% move for the Zacks Basic Materials sector and the 2.4% return for the Zacks Steel - Producers industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on October 19, 2022, Steel Dynamics reported EPS of $5.46 versus consensus estimate of $4.97 while it beat the consensus revenue estimate by 3.16%.