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Nucor (NUE) Gains As Market Dips: What You Should Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $112.57, marking a +0.35% move from the previous day. This change outpaced the S&P 500's 0.46% loss on the day.
Coming into today, shares of the steel company had lost 8.59% in the past month. In that same time, the Basic Materials sector lost 3.35%, while the S&P 500 gained 1.93%.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. The company is expected to report EPS of $6.52, up 934.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.9 billion, up 100.81% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $19.33 per share and revenue of $34.96 billion. These results would represent year-over-year changes of +478.74% and +73.6%, respectively.
Investors should also note any recent changes to analyst estimates for NUE. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.83% higher within the past month. NUE is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, NUE currently has a Forward P/E ratio of 5.8. For comparison, its industry has an average Forward P/E of 4.64, which means NUE is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Gains As Market Dips: What You Should Know
In the latest trading session, Nucor (NUE - Free Report) closed at $112.57, marking a +0.35% move from the previous day. This change outpaced the S&P 500's 0.46% loss on the day.
Coming into today, shares of the steel company had lost 8.59% in the past month. In that same time, the Basic Materials sector lost 3.35%, while the S&P 500 gained 1.93%.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. The company is expected to report EPS of $6.52, up 934.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.9 billion, up 100.81% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $19.33 per share and revenue of $34.96 billion. These results would represent year-over-year changes of +478.74% and +73.6%, respectively.
Investors should also note any recent changes to analyst estimates for NUE. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.83% higher within the past month. NUE is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, NUE currently has a Forward P/E ratio of 5.8. For comparison, its industry has an average Forward P/E of 4.64, which means NUE is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.