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Nucor (NUE) Outpaces Stock Market Gains: What You Should Know
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Nucor (NUE - Free Report) closed at $97.76 in the latest trading session, marking a +0.61% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.35%.
Heading into today, shares of the steel company had lost 8.84% over the past month, lagging the Basic Materials sector's loss of 1% and the S&P 500's gain of 3.64% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. On that day, NUE is projected to report earnings of $4.92 per share, which would represent year-over-year growth of 1266.67%. Meanwhile, our latest consensus estimate is calling for revenue of $8.4 billion, up 94% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.24 per share and revenue of $32.38 billion. These totals would mark changes of +386.23% and +60.77%, respectively, from last year.
Any recent changes to analyst estimates for NUE should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 35.04% higher. NUE is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note NUE's current valuation metrics, including its Forward P/E ratio of 5.98. This valuation marks a discount compared to its industry's average Forward P/E of 6.33.
Investors should also note that NUE has a PEG ratio of 0.5 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NUE's industry had an average PEG ratio of 0.28 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.
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Nucor (NUE) Outpaces Stock Market Gains: What You Should Know
Nucor (NUE - Free Report) closed at $97.76 in the latest trading session, marking a +0.61% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.35%.
Heading into today, shares of the steel company had lost 8.84% over the past month, lagging the Basic Materials sector's loss of 1% and the S&P 500's gain of 3.64% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. On that day, NUE is projected to report earnings of $4.92 per share, which would represent year-over-year growth of 1266.67%. Meanwhile, our latest consensus estimate is calling for revenue of $8.4 billion, up 94% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.24 per share and revenue of $32.38 billion. These totals would mark changes of +386.23% and +60.77%, respectively, from last year.
Any recent changes to analyst estimates for NUE should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 35.04% higher. NUE is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note NUE's current valuation metrics, including its Forward P/E ratio of 5.98. This valuation marks a discount compared to its industry's average Forward P/E of 6.33.
Investors should also note that NUE has a PEG ratio of 0.5 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NUE's industry had an average PEG ratio of 0.28 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.