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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
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Nucor (NUE - Free Report) closed at $114.45 in the latest trading session, marking a -1.89% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the steel company had gained 4.09% in the past month. In that same time, the Basic Materials sector gained 4.32%, while the S&P 500 gained 4.4%.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. On that day, Nucor is projected to report earnings of $8.08 per share, which would represent year-over-year growth of 502.99%. Meanwhile, our latest consensus estimate is calling for revenue of $10.6 billion, up 101.49% from the prior-year quarter.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $23.22 per share and revenue of $36.89 billion. These results would represent year-over-year changes of +595.21% and +83.16%, respectively.
Investors should also note any recent changes to analyst estimates for Nucor. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 1.76% higher. Nucor is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 5.02. This represents a premium compared to its industry's average Forward P/E of 3.87.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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.
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) Dips More Than Broader Markets: What You Should Know
Nucor (NUE - Free Report) closed at $114.45 in the latest trading session, marking a -1.89% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the steel company had gained 4.09% in the past month. In that same time, the Basic Materials sector gained 4.32%, while the S&P 500 gained 4.4%.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. On that day, Nucor is projected to report earnings of $8.08 per share, which would represent year-over-year growth of 502.99%. Meanwhile, our latest consensus estimate is calling for revenue of $10.6 billion, up 101.49% from the prior-year quarter.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $23.22 per share and revenue of $36.89 billion. These results would represent year-over-year changes of +595.21% and +83.16%, respectively.
Investors should also note any recent changes to analyst estimates for Nucor. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 1.76% higher. Nucor is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 5.02. This represents a premium compared to its industry's average Forward P/E of 3.87.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.