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In the latest market close, Nucor (NUE - Free Report) reached $156.93, with a +0.62% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.81% for the day. Meanwhile, the Dow experienced a rise of 0.39%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Prior to today's trading, shares of the steel company had lost 8.38% over the past month. This has lagged the Basic Materials sector's loss of 7.36% and the S&P 500's loss of 6.19% in that time.
The investment community will be closely monitoring the performance of Nucor in its forthcoming earnings report. The company is scheduled to release its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be $4.18, reflecting a 35.69% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $8.53 billion, showing a 18.73% drop compared to the year-ago quarter.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $17.79 per share and revenue of $34.49 billion. These results would represent year-over-year changes of -38.21% and -16.92%, 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.4% lower. At present, Nucor boasts a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 8.77 right now. This denotes a premium relative to the industry's average Forward P/E of 8.38.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nucor (NUE) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest market close, Nucor (NUE - Free Report) reached $156.93, with a +0.62% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.81% for the day. Meanwhile, the Dow experienced a rise of 0.39%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Prior to today's trading, shares of the steel company had lost 8.38% over the past month. This has lagged the Basic Materials sector's loss of 7.36% and the S&P 500's loss of 6.19% in that time.
The investment community will be closely monitoring the performance of Nucor in its forthcoming earnings report. The company is scheduled to release its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be $4.18, reflecting a 35.69% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $8.53 billion, showing a 18.73% drop compared to the year-ago quarter.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $17.79 per share and revenue of $34.49 billion. These results would represent year-over-year changes of -38.21% and -16.92%, 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.4% lower. At present, Nucor boasts a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 8.77 right now. This denotes a premium relative to the industry's average Forward P/E of 8.38.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.