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Nucor (NUE) Stock Falls Amid Market Uptick: What Investors Need to Know
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Nucor (NUE - Free Report) ended the recent trading session at $139.61, demonstrating a -0.93% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.45%. Meanwhile, the Dow experienced a drop of 0.23%, and the technology-dominated Nasdaq saw an increase of 0.84%.
Coming into today, shares of the steel company had lost 0.3% in the past month. In that same time, the Basic Materials sector lost 0.34%, while the S&P 500 gained 2.54%.
Market participants will be closely following the financial results of Nucor in its upcoming release. On that day, Nucor is projected to report earnings of $1.86 per share, which would represent a year-over-year decline of 59.3%. In the meantime, our current consensus estimate forecasts the revenue to be $7.33 billion, indicating a 16.44% decline compared to the corresponding quarter of the prior year.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $9.91 per share and revenue of $31.04 billion. These results would represent year-over-year changes of -44.94% and -10.57%, respectively.
It is also important to note the recent changes to analyst estimates for Nucor. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.31% lower. As of now, Nucor holds a Zacks Rank of #3 (Hold).
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 14.22. This denotes a premium relative to the industry's average Forward P/E of 12.35.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nucor (NUE) Stock Falls Amid Market Uptick: What Investors Need to Know
Nucor (NUE - Free Report) ended the recent trading session at $139.61, demonstrating a -0.93% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.45%. Meanwhile, the Dow experienced a drop of 0.23%, and the technology-dominated Nasdaq saw an increase of 0.84%.
Coming into today, shares of the steel company had lost 0.3% in the past month. In that same time, the Basic Materials sector lost 0.34%, while the S&P 500 gained 2.54%.
Market participants will be closely following the financial results of Nucor in its upcoming release. On that day, Nucor is projected to report earnings of $1.86 per share, which would represent a year-over-year decline of 59.3%. In the meantime, our current consensus estimate forecasts the revenue to be $7.33 billion, indicating a 16.44% decline compared to the corresponding quarter of the prior year.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $9.91 per share and revenue of $31.04 billion. These results would represent year-over-year changes of -44.94% and -10.57%, respectively.
It is also important to note the recent changes to analyst estimates for Nucor. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.31% lower. As of now, Nucor holds a Zacks Rank of #3 (Hold).
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 14.22. This denotes a premium relative to the industry's average Forward P/E of 12.35.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.