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Nucor (NUE) Gains As Market Dips: What You Should Know
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Nucor (NUE - Free Report) closed at $165.32 in the latest trading session, marking a +1.28% move from the prior day. This move outpaced the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Heading into today, shares of the steel company had gained 20.81% over the past month, outpacing the Basic Materials sector's gain of 7.06% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release, which is expected to be April 21, 2022. The company is expected to report EPS of $7.39, up 138.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.12 billion, up 44.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $20.32 per share and revenue of $39.54 billion. These totals would mark changes of -12.26% and +8.37%, respectively, from last year.
Any recent changes to analyst estimates for Nucor should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 2.65% higher. Nucor is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 8.03. This valuation marks a premium compared to its industry's average Forward P/E of 4.34.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.
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Nucor (NUE) Gains As Market Dips: What You Should Know
Nucor (NUE - Free Report) closed at $165.32 in the latest trading session, marking a +1.28% move from the prior day. This move outpaced the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Heading into today, shares of the steel company had gained 20.81% over the past month, outpacing the Basic Materials sector's gain of 7.06% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release, which is expected to be April 21, 2022. The company is expected to report EPS of $7.39, up 138.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.12 billion, up 44.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $20.32 per share and revenue of $39.54 billion. These totals would mark changes of -12.26% and +8.37%, respectively, from last year.
Any recent changes to analyst estimates for Nucor should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 2.65% higher. Nucor is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 8.03. This valuation marks a premium compared to its industry's average Forward P/E of 4.34.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.