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Earnings Season Preview: Steel Dynamics Stock Near Buy Zone With Quarterly Report Due

If you’re trying to build your earnings season watch list by looking for stocks setting up in a base ahead of their next earnings report, here’s on that fits the bill: Steel Dynamics (STLD). It’s expected to announce its latest quarterly performance on or around Jul. 19 and is trading approximately 9% under a 66.98 entry. The base is a second-stage flat base. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

 




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Be aware that buying a stock just before it reports is risky, since an EPS or sales miss could send it sharply lower. You can minimize your exposure by waiting to see how the company reports and how the market reacts.


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In terms of top and bottom line numbers, the steel maker has posted three quarters of rising earnings growth. Top line growth has also moved higher over the same time frame.

Analysts expect earnings growth of 619% for the quarter, and 361% growth for the full year. Annual growth estimates were recently revised upward.

Steel Dynamics stock has a 99 Composite Rating and holds the No. 1 rank among its peers in the Steel-Producers industry group. Ternium (TX) and Nucor (NUE) are also among the group’s highest-rated stocks.

Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.

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