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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
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Nucor (NUE - Free Report) closed at $134.19 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's 1.2% loss on the day. Elsewhere, the Dow lost 1.1%, while the tech-heavy Nasdaq lost 2.86%.
Coming into today, shares of the steel company had lost 7.11% in the past month. In that same time, the Basic Materials sector lost 0.7%, while the S&P 500 lost 4.77%.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $4.14 per share. This would mark a year-over-year decline of 48.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.91 billion, down 23.68% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $28.05 per share and revenue of $40.7 billion. These totals would mark changes of +21.11% and +11.55%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% lower. Nucor is currently a Zacks Rank #3 (Hold).
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 4.87. This represents a premium compared to its industry's average Forward P/E of 3.67.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.
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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
Nucor (NUE - Free Report) closed at $134.19 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's 1.2% loss on the day. Elsewhere, the Dow lost 1.1%, while the tech-heavy Nasdaq lost 2.86%.
Coming into today, shares of the steel company had lost 7.11% in the past month. In that same time, the Basic Materials sector lost 0.7%, while the S&P 500 lost 4.77%.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $4.14 per share. This would mark a year-over-year decline of 48.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.91 billion, down 23.68% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $28.05 per share and revenue of $40.7 billion. These totals would mark changes of +21.11% and +11.55%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% lower. Nucor is currently a Zacks Rank #3 (Hold).
Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 4.87. This represents a premium compared to its industry's average Forward P/E of 3.67.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.