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Nucor (NUE) Outpaces Stock Market Gains: What You Should Know
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Nucor (NUE - Free Report) closed at $167.43 in the latest trading session, marking a +0.4% move from the prior day. This change outpaced the S&P 500's 0.39% gain on the day.
Coming into today, shares of the steel company had gained 10.15% in the past month. In that same time, the Basic Materials sector gained 2.31%, while the S&P 500 gained 3.16%.
Investors will be hoping for strength from Nucor as it approaches its next earnings release, which is expected to be July 25, 2023. The company is expected to report EPS of $5.54, down 42.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.76 billion, down 17.27% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.42 per share and revenue of $36.04 billion. These totals would mark changes of -36.02% and -13.18%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.81% higher. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 9.06. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.06.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% 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) Outpaces Stock Market Gains: What You Should Know
Nucor (NUE - Free Report) closed at $167.43 in the latest trading session, marking a +0.4% move from the prior day. This change outpaced the S&P 500's 0.39% gain on the day.
Coming into today, shares of the steel company had gained 10.15% in the past month. In that same time, the Basic Materials sector gained 2.31%, while the S&P 500 gained 3.16%.
Investors will be hoping for strength from Nucor as it approaches its next earnings release, which is expected to be July 25, 2023. The company is expected to report EPS of $5.54, down 42.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.76 billion, down 17.27% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.42 per share and revenue of $36.04 billion. These totals would mark changes of -36.02% and -13.18%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.81% higher. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 9.06. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.06.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% 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.