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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
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Nucor (NUE - Free Report) closed the most recent trading day at $131.76, moving -1.38% from the previous trading session. This change lagged the S&P 500's 0.9% loss on the day. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Prior to today's trading, shares of the steel company had lost 5.94% over the past month. This has lagged the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% in that time.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. In that report, analysts expect Nucor to post earnings of $4.22 per share. This would mark a year-over-year decline of 47.05%. Meanwhile, our latest consensus estimate is calling for revenue of $7.88 billion, down 23.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $28.12 per share and revenue of $40.67 billion, which would represent changes of +21.42% and +11.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. The Zacks Consensus EPS estimate has moved 18.78% lower within the past month. Nucor is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 4.75. For comparison, its industry has an average Forward P/E of 3.71, 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 68, which puts it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
Nucor (NUE - Free Report) closed the most recent trading day at $131.76, moving -1.38% from the previous trading session. This change lagged the S&P 500's 0.9% loss on the day. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Prior to today's trading, shares of the steel company had lost 5.94% over the past month. This has lagged the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% in that time.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. In that report, analysts expect Nucor to post earnings of $4.22 per share. This would mark a year-over-year decline of 47.05%. Meanwhile, our latest consensus estimate is calling for revenue of $7.88 billion, down 23.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $28.12 per share and revenue of $40.67 billion, which would represent changes of +21.42% and +11.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. The Zacks Consensus EPS estimate has moved 18.78% lower within the past month. Nucor is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 4.75. For comparison, its industry has an average Forward P/E of 3.71, 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 68, which puts it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.