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Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
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Nucor (NUE - Free Report) closed the most recent trading day at $95.11, moving -1.63% from the previous trading session. This change lagged the S&P 500's 0.23% gain on the day.
Heading into today, shares of the steel company had lost 5.71% over the past month, lagging the Basic Materials sector's loss of 2.56% and the S&P 500's gain of 2.34% in that time.
NUE will be looking to display strength as it nears its next earnings release. In that report, analysts expect NUE to post earnings of $4.71 per share. This would mark year-over-year growth of 1208.33%. Meanwhile, our latest consensus estimate is calling for revenue of $8.32 billion, up 92.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.86 per share and revenue of $31.22 billion. These totals would mark changes of +344.91% and +55.01%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for NUE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 23.59% higher. NUE is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, NUE is currently trading at a Forward P/E ratio of 6.51. For comparison, its industry has an average Forward P/E of 6.51, which means NUE is trading at a no noticeable deviation to the group.
Meanwhile, NUE's PEG ratio is currently 0.54. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.32 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
Nucor (NUE - Free Report) closed the most recent trading day at $95.11, moving -1.63% from the previous trading session. This change lagged the S&P 500's 0.23% gain on the day.
Heading into today, shares of the steel company had lost 5.71% over the past month, lagging the Basic Materials sector's loss of 2.56% and the S&P 500's gain of 2.34% in that time.
NUE will be looking to display strength as it nears its next earnings release. In that report, analysts expect NUE to post earnings of $4.71 per share. This would mark year-over-year growth of 1208.33%. Meanwhile, our latest consensus estimate is calling for revenue of $8.32 billion, up 92.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.86 per share and revenue of $31.22 billion. These totals would mark changes of +344.91% and +55.01%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for NUE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 23.59% higher. NUE is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, NUE is currently trading at a Forward P/E ratio of 6.51. For comparison, its industry has an average Forward P/E of 6.51, which means NUE is trading at a no noticeable deviation to the group.
Meanwhile, NUE's PEG ratio is currently 0.54. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.32 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.