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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $168.60, marking a -0.96% move from the previous day. This change lagged the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Prior to today's trading, shares of the steel company had gained 0.19% over the past month. This has outpaced the Basic Materials sector's loss of 1.13% and lagged the S&P 500's gain of 0.58% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. In that report, analysts expect Nucor to post earnings of $4.77 per share. This would mark a year-over-year decline of 26.62%. Our most recent consensus estimate is calling for quarterly revenue of $8.86 billion, down 15.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.76 per share and revenue of $35.04 billion. These totals would mark changes of -34.84% and -15.6%, respectively, from last 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. The Zacks Consensus EPS estimate has moved 0.33% 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 9.07. For comparison, its industry has an average Forward P/E of 8.8, 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 109, which puts it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Nucor (NUE - Free Report) closed at $168.60, marking a -0.96% move from the previous day. This change lagged the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Prior to today's trading, shares of the steel company had gained 0.19% over the past month. This has outpaced the Basic Materials sector's loss of 1.13% and lagged the S&P 500's gain of 0.58% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. In that report, analysts expect Nucor to post earnings of $4.77 per share. This would mark a year-over-year decline of 26.62%. Our most recent consensus estimate is calling for quarterly revenue of $8.86 billion, down 15.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.76 per share and revenue of $35.04 billion. These totals would mark changes of -34.84% and -15.6%, respectively, from last 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. The Zacks Consensus EPS estimate has moved 0.33% 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 9.07. For comparison, its industry has an average Forward P/E of 8.8, 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 109, which puts it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.