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Nucor (NUE) Gains But Lags Market: What You Should Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $106.92, marking a +1.55% move from the previous day. The stock lagged the S&P 500's daily gain of 1.97%. At the same time, the Dow added 1.88%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the steel company had lost 22.12% over the past month, lagging the Basic Materials sector's loss of 13.23% and the S&P 500's loss of 9.93% in that time.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $6.50 per share. This would mark a year-over-year decline of 10.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.44 billion, up 1.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $28.70 per share and revenue of $41.79 billion. These totals would mark changes of +23.92% and +14.53%, respectively, from last year.
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. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 7.45% lower. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 3.67 right now. For comparison, its industry has an average Forward P/E of 2.57, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nucor (NUE) Gains But Lags Market: What You Should Know
In the latest trading session, Nucor (NUE - Free Report) closed at $106.92, marking a +1.55% move from the previous day. The stock lagged the S&P 500's daily gain of 1.97%. At the same time, the Dow added 1.88%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the steel company had lost 22.12% over the past month, lagging the Basic Materials sector's loss of 13.23% and the S&P 500's loss of 9.93% in that time.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $6.50 per share. This would mark a year-over-year decline of 10.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.44 billion, up 1.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $28.70 per share and revenue of $41.79 billion. These totals would mark changes of +23.92% and +14.53%, respectively, from last year.
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. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 7.45% lower. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 3.67 right now. For comparison, its industry has an average Forward P/E of 2.57, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.