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Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
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Nucor (NUE - Free Report) closed at $154.67 in the latest trading session, marking a -0.48% move from the prior day. This change lagged the S&P 500's 0.07% gain on the day. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 0.01%.
Coming into today, shares of the steel company had lost 7.67% in the past month. In that same time, the Basic Materials sector gained 2.91%, while the S&P 500 gained 0.38%.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. In that report, analysts expect Nucor to post earnings of $4.59 per share. This would mark a year-over-year decline of 29.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.73 billion, down 16.83% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $18.55 per share and revenue of $34.82 billion. These results would represent year-over-year changes of -35.57% and -16.12%, respectively.
Investors might also notice recent changes to analyst estimates for Nucor. These recent revisions tend to reflect the evolving nature of short-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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.12% lower. Nucor currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 8.38. This represents a premium compared to its industry's average Forward P/E of 8.11.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
Nucor (NUE - Free Report) closed at $154.67 in the latest trading session, marking a -0.48% move from the prior day. This change lagged the S&P 500's 0.07% gain on the day. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 0.01%.
Coming into today, shares of the steel company had lost 7.67% in the past month. In that same time, the Basic Materials sector gained 2.91%, while the S&P 500 gained 0.38%.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. In that report, analysts expect Nucor to post earnings of $4.59 per share. This would mark a year-over-year decline of 29.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.73 billion, down 16.83% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $18.55 per share and revenue of $34.82 billion. These results would represent year-over-year changes of -35.57% and -16.12%, respectively.
Investors might also notice recent changes to analyst estimates for Nucor. These recent revisions tend to reflect the evolving nature of short-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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.12% lower. Nucor currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 8.38. This represents a premium compared to its industry's average Forward P/E of 8.11.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.