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Nucor (NUE) Gains As Market Dips: What You Should Know
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Nucor (NUE - Free Report) closed the most recent trading day at $119.31, moving +0.38% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Prior to today's trading, shares of the steel company had lost 12.67% over the past month. This has lagged the Basic Materials sector's loss of 9.54% and the S&P 500's loss of 11.67% in that time.
Nucor will be looking to display strength as it nears its next earnings release. On that day, Nucor is projected to report earnings of $6.45 per share, which would represent a year-over-year decline of 11.4%. Meanwhile, our latest consensus estimate is calling for revenue of $10.06 billion, down 2.46% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $29.84 per share and revenue of $41.58 billion, which would represent changes of +28.84% and +13.95%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 3.79% 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 3.98 right now. For comparison, its industry has an average Forward P/E of 2.83, 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 196, which puts it in the bottom 23% 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.
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 the most recent trading day at $119.31, moving +0.38% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Prior to today's trading, shares of the steel company had lost 12.67% over the past month. This has lagged the Basic Materials sector's loss of 9.54% and the S&P 500's loss of 11.67% in that time.
Nucor will be looking to display strength as it nears its next earnings release. On that day, Nucor is projected to report earnings of $6.45 per share, which would represent a year-over-year decline of 11.4%. Meanwhile, our latest consensus estimate is calling for revenue of $10.06 billion, down 2.46% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $29.84 per share and revenue of $41.58 billion, which would represent changes of +28.84% and +13.95%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 3.79% 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 3.98 right now. For comparison, its industry has an average Forward P/E of 2.83, 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 196, which puts it in the bottom 23% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.