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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 $156.24, marking a +0.52% move from the previous day. The stock lagged the S&P 500's daily gain of 1.68%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq lost 1.7%.
Heading into today, shares of the steel company had lost 7.27% over the past month, lagging the Basic Materials sector's loss of 4.99% and the S&P 500's loss of 6.68% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. On that day, Nucor is projected to report earnings of $4.09 per share, which would represent a year-over-year decline of 46.68%. Our most recent consensus estimate is calling for quarterly revenue of $8.6 billion, down 18.09% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $14.12 per share and revenue of $32.04 billion. These results would represent year-over-year changes of -50.96% and -22.81%, respectively.
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. 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. Within the past 30 days, our consensus EPS projection has moved 8.72% higher. Nucor is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 11.01 right now. This valuation marks a premium compared to its industry's average Forward P/E of 9.7.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.
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 $156.24, marking a +0.52% move from the previous day. The stock lagged the S&P 500's daily gain of 1.68%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq lost 1.7%.
Heading into today, shares of the steel company had lost 7.27% over the past month, lagging the Basic Materials sector's loss of 4.99% and the S&P 500's loss of 6.68% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. On that day, Nucor is projected to report earnings of $4.09 per share, which would represent a year-over-year decline of 46.68%. Our most recent consensus estimate is calling for quarterly revenue of $8.6 billion, down 18.09% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $14.12 per share and revenue of $32.04 billion. These results would represent year-over-year changes of -50.96% and -22.81%, respectively.
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. 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. Within the past 30 days, our consensus EPS projection has moved 8.72% higher. Nucor is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 11.01 right now. This valuation marks a premium compared to its industry's average Forward P/E of 9.7.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.