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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $152.35, marking a -1.79% move from the previous day. This move lagged the S&P 500's daily loss of 1.56%. Elsewhere, the Dow lost 1.81%, while the tech-heavy Nasdaq lost 4.66%.
Heading into today, shares of the steel company had gained 15.8% over the past month, outpacing the Basic Materials sector's gain of 8.09% and the S&P 500's gain of 3.82% in that time.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. This is expected to be January 26, 2023. In that report, analysts expect Nucor to post earnings of $4.18 per share. This would mark a year-over-year decline of 47.55%. Meanwhile, our latest consensus estimate is calling for revenue of $7.91 billion, down 23.68% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 10.94% higher. Nucor currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 12.16. This valuation marks a premium compared to its industry's average Forward P/E of 10.19.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Nucor (NUE - Free Report) closed at $152.35, marking a -1.79% move from the previous day. This move lagged the S&P 500's daily loss of 1.56%. Elsewhere, the Dow lost 1.81%, while the tech-heavy Nasdaq lost 4.66%.
Heading into today, shares of the steel company had gained 15.8% over the past month, outpacing the Basic Materials sector's gain of 8.09% and the S&P 500's gain of 3.82% in that time.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. This is expected to be January 26, 2023. In that report, analysts expect Nucor to post earnings of $4.18 per share. This would mark a year-over-year decline of 47.55%. Meanwhile, our latest consensus estimate is calling for revenue of $7.91 billion, down 23.68% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 10.94% higher. Nucor currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 12.16. This valuation marks a premium compared to its industry's average Forward P/E of 10.19.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.