We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nucor (NUE - Free Report) ended the recent trading session at $157.23, demonstrating a +0.51% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
The steel company's shares have seen a decrease of 7.38% over the last month, not keeping up with the Basic Materials sector's loss of 6.48% and the S&P 500's loss of 5.17%.
The investment community will be paying close attention to the earnings performance of Nucor in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. It is anticipated that the company will report an EPS of $4.18, marking a 35.69% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.53 billion, down 18.73% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $17.79 per share and revenue of $34.49 billion, which would represent changes of -38.21% and -16.92%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 5.2% lower. Nucor is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Nucor is at present trading with a Forward P/E ratio of 8.8. This signifies a premium in comparison to the average Forward P/E of 8.37 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nucor (NUE) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Nucor (NUE - Free Report) ended the recent trading session at $157.23, demonstrating a +0.51% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
The steel company's shares have seen a decrease of 7.38% over the last month, not keeping up with the Basic Materials sector's loss of 6.48% and the S&P 500's loss of 5.17%.
The investment community will be paying close attention to the earnings performance of Nucor in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. It is anticipated that the company will report an EPS of $4.18, marking a 35.69% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.53 billion, down 18.73% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $17.79 per share and revenue of $34.49 billion, which would represent changes of -38.21% and -16.92%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 5.2% lower. Nucor is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Nucor is at present trading with a Forward P/E ratio of 8.8. This signifies a premium in comparison to the average Forward P/E of 8.37 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.