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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 $104.60, moving -0.98% from the previous trading session. This move lagged the S&P 500's daily gain of 0.16%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.49%.
Heading into today, shares of the steel company had lost 18.41% over the past month, outpacing the Basic Materials sector's loss of 23.51% and lagging the S&P 500's loss of 6.79% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $8.65, up 71.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.42 billion, up 29.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $29.75 per share and revenue of $42.29 billion, which would represent changes of +28.45% and +15.93%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Nucor. 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.
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 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 0.55% higher. Nucor is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 3.55. Its industry sports an average Forward P/E of 2.7, so we one might conclude that Nucor is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% 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 $104.60, moving -0.98% from the previous trading session. This move lagged the S&P 500's daily gain of 0.16%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.49%.
Heading into today, shares of the steel company had lost 18.41% over the past month, outpacing the Basic Materials sector's loss of 23.51% and lagging the S&P 500's loss of 6.79% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $8.65, up 71.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.42 billion, up 29.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $29.75 per share and revenue of $42.29 billion, which would represent changes of +28.45% and +15.93%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Nucor. 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.
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 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 0.55% higher. Nucor is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 3.55. Its industry sports an average Forward P/E of 2.7, so we one might conclude that Nucor is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% 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.