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Nucor (NUE) Gains As Market Dips: What You Should Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $152.98, marking a +1.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.44%. Meanwhile, the Dow lost 1.03%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Prior to today's trading, shares of the steel company had gained 12.43% over the past month. This has outpaced the Basic Materials sector's gain of 9.86% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. In that report, analysts expect Nucor to post earnings of $5.68 per share. This would mark a year-over-year decline of 28.73%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.39 billion, down 19.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $29.49 per share and revenue of $40.94 billion, which would represent changes of +27.33% and +12.21%, respectively, from the prior year.
Any recent changes to analyst estimates for Nucor should also be noted by investors. 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. The Zacks Consensus EPS estimate has moved 1.17% lower within the past month. Nucor is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 5.12. Its industry sports an average Forward P/E of 3.82, so we one might conclude that Nucor is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nucor (NUE) Gains As Market Dips: What You Should Know
In the latest trading session, Nucor (NUE - Free Report) closed at $152.98, marking a +1.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.44%. Meanwhile, the Dow lost 1.03%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Prior to today's trading, shares of the steel company had gained 12.43% over the past month. This has outpaced the Basic Materials sector's gain of 9.86% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. In that report, analysts expect Nucor to post earnings of $5.68 per share. This would mark a year-over-year decline of 28.73%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.39 billion, down 19.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $29.49 per share and revenue of $40.94 billion, which would represent changes of +27.33% and +12.21%, respectively, from the prior year.
Any recent changes to analyst estimates for Nucor should also be noted by investors. 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. The Zacks Consensus EPS estimate has moved 1.17% lower within the past month. Nucor is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 5.12. Its industry sports an average Forward P/E of 3.82, so we one might conclude that Nucor is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.