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Nucor (NUE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $141.71, marking a -1.88% move from the previous day. This change lagged the S&P 500's 0.16% loss on the day. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq decreased by 0.3%.
The steel company's stock has dropped by 3.69% in the past month, falling short of the Basic Materials sector's gain of 0.19% and the S&P 500's gain of 3.64%.
The upcoming earnings release of Nucor will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.86, reflecting a 59.3% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.33 billion, indicating a 16.44% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.91 per share and a revenue of $31.04 billion, signifying shifts of -44.94% and -10.57%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nucor. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 6.18% lower within the past month. Nucor is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 14.57. This signifies a premium in comparison to the average Forward P/E of 13.05 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Nucor (NUE - Free Report) closed at $141.71, marking a -1.88% move from the previous day. This change lagged the S&P 500's 0.16% loss on the day. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq decreased by 0.3%.
The steel company's stock has dropped by 3.69% in the past month, falling short of the Basic Materials sector's gain of 0.19% and the S&P 500's gain of 3.64%.
The upcoming earnings release of Nucor will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.86, reflecting a 59.3% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.33 billion, indicating a 16.44% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.91 per share and a revenue of $31.04 billion, signifying shifts of -44.94% and -10.57%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nucor. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 6.18% lower within the past month. Nucor is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 14.57. This signifies a premium in comparison to the average Forward P/E of 13.05 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.