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Nucor (NUE) Stock Moves 1.28%: What You Should Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $148.72, marking a +1.28% move from the previous day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Heading into today, shares of the steel company had lost 5.53% over the past month, lagging the Basic Materials sector's gain of 2.71% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release, which is expected to be April 20, 2023. On that day, Nucor is projected to report earnings of $3.76 per share, which would represent a year-over-year decline of 50.98%. Our most recent consensus estimate is calling for quarterly revenue of $8.17 billion, down 22.15% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $15.37 per share and revenue of $33.69 billion. These results would represent year-over-year changes of -46.61% and -18.84%, respectively.
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. 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, 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 8.82% higher within the past month. Nucor is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Nucor is holding a Forward P/E ratio of 9.56. Its industry sports an average Forward P/E of 7.49, 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 15, which puts it in the top 6% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.
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Nucor (NUE) Stock Moves 1.28%: What You Should Know
In the latest trading session, Nucor (NUE - Free Report) closed at $148.72, marking a +1.28% move from the previous day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Heading into today, shares of the steel company had lost 5.53% over the past month, lagging the Basic Materials sector's gain of 2.71% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release, which is expected to be April 20, 2023. On that day, Nucor is projected to report earnings of $3.76 per share, which would represent a year-over-year decline of 50.98%. Our most recent consensus estimate is calling for quarterly revenue of $8.17 billion, down 22.15% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $15.37 per share and revenue of $33.69 billion. These results would represent year-over-year changes of -46.61% and -18.84%, respectively.
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. 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, 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 8.82% higher within the past month. Nucor is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Nucor is holding a Forward P/E ratio of 9.56. Its industry sports an average Forward P/E of 7.49, 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 15, which puts it in the top 6% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.