We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nucor (NUE) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
The most recent trading session ended with Nucor (NUE - Free Report) standing at $168.19, reflecting a -0.4% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.07%.
The the stock of steel company has risen by 1.28% in the past month, lagging the Basic Materials sector's gain of 1.66% and the S&P 500's gain of 3.98%.
Analysts and investors alike will be keeping a close eye on the performance of Nucor in its upcoming earnings disclosure. The company's earnings report is set to go public on January 29, 2024. The company's earnings per share (EPS) are projected to be $2.90, reflecting a 40.7% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $7.56 billion, reflecting a 13.29% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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. 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 2.4% higher within the past month. Right now, Nucor possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Nucor is presently being traded at a Forward P/E ratio of 13.35. This expresses a premium compared to the average Forward P/E of 9.44 of its industry.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nucor (NUE) Suffers a Larger Drop Than the General Market: Key Insights
The most recent trading session ended with Nucor (NUE - Free Report) standing at $168.19, reflecting a -0.4% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.07%.
The the stock of steel company has risen by 1.28% in the past month, lagging the Basic Materials sector's gain of 1.66% and the S&P 500's gain of 3.98%.
Analysts and investors alike will be keeping a close eye on the performance of Nucor in its upcoming earnings disclosure. The company's earnings report is set to go public on January 29, 2024. The company's earnings per share (EPS) are projected to be $2.90, reflecting a 40.7% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $7.56 billion, reflecting a 13.29% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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. 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 2.4% higher within the past month. Right now, Nucor possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Nucor is presently being traded at a Forward P/E ratio of 13.35. This expresses a premium compared to the average Forward P/E of 9.44 of its industry.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.