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Nucor (NUE) Gains As Market Dips: What You Should Know
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Nucor (NUE - Free Report) closed the most recent trading day at $172.10, moving +1.08% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq added 0.11%.
Coming into today, shares of the steel company had gained 0.4% in the past month. In that same time, the Basic Materials sector lost 3.05%, while the S&P 500 lost 1.25%.
Nucor will be looking to display strength as it nears its next earnings release. On that day, Nucor is projected to report earnings of $4.77 per share, which would represent a year-over-year decline of 26.62%. Meanwhile, our latest consensus estimate is calling for revenue of $8.86 billion, down 15.59% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.76 per share and revenue of $35.04 billion, which would represent changes of -34.84% and -15.6%, respectively, from the prior year.
It is also important to note the 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 0.33% lower. Nucor is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 9.08. This represents a premium compared to its industry's average Forward P/E of 8.42.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.
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Nucor (NUE) Gains As Market Dips: What You Should Know
Nucor (NUE - Free Report) closed the most recent trading day at $172.10, moving +1.08% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq added 0.11%.
Coming into today, shares of the steel company had gained 0.4% in the past month. In that same time, the Basic Materials sector lost 3.05%, while the S&P 500 lost 1.25%.
Nucor will be looking to display strength as it nears its next earnings release. On that day, Nucor is projected to report earnings of $4.77 per share, which would represent a year-over-year decline of 26.62%. Meanwhile, our latest consensus estimate is calling for revenue of $8.86 billion, down 15.59% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.76 per share and revenue of $35.04 billion, which would represent changes of -34.84% and -15.6%, respectively, from the prior year.
It is also important to note the 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 0.33% lower. Nucor is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 9.08. This represents a premium compared to its industry's average Forward P/E of 8.42.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.