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Nucor (NUE) Outpaces Stock Market Gains: What You Should Know
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Nucor (NUE - Free Report) closed at $62.88 in the latest trading session, marking a +1.26% move from the prior day. This move outpaced the S&P 500's daily gain of 1.06%. At the same time, the Dow added 0.83%, and the tech-heavy Nasdaq gained 1.72%.
Prior to today's trading, shares of the steel company had gained 5.09% over the past month. This has outpaced the Basic Materials sector's loss of 3.09% and the S&P 500's loss of 2.09% in that time.
NUE will be looking to display strength as it nears its next earnings release, which is expected to be January 29, 2019. On that day, NUE is projected to report earnings of $2 per share, which would represent year-over-year growth of 207.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.29 billion, up 23.53% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $7.61 per share and revenue of $25.09 billion. These results would represent year-over-year changes of +116.81% and +23.9%, respectively.
Investors should also note any recent changes to analyst estimates for NUE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.74% lower. NUE is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that NUE has a Forward P/E ratio of 8.16 right now. For comparison, its industry has an average Forward P/E of 8.65, which means NUE is trading at a discount to the group.
Also, we should mention that NUE has a PEG ratio of 0.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NUE's industry had an average PEG ratio of 0.66 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 109, putting it in the top 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nucor (NUE) Outpaces Stock Market Gains: What You Should Know
Nucor (NUE - Free Report) closed at $62.88 in the latest trading session, marking a +1.26% move from the prior day. This move outpaced the S&P 500's daily gain of 1.06%. At the same time, the Dow added 0.83%, and the tech-heavy Nasdaq gained 1.72%.
Prior to today's trading, shares of the steel company had gained 5.09% over the past month. This has outpaced the Basic Materials sector's loss of 3.09% and the S&P 500's loss of 2.09% in that time.
NUE will be looking to display strength as it nears its next earnings release, which is expected to be January 29, 2019. On that day, NUE is projected to report earnings of $2 per share, which would represent year-over-year growth of 207.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.29 billion, up 23.53% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $7.61 per share and revenue of $25.09 billion. These results would represent year-over-year changes of +116.81% and +23.9%, respectively.
Investors should also note any recent changes to analyst estimates for NUE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.74% lower. NUE is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that NUE has a Forward P/E ratio of 8.16 right now. For comparison, its industry has an average Forward P/E of 8.65, which means NUE is trading at a discount to the group.
Also, we should mention that NUE has a PEG ratio of 0.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NUE's industry had an average PEG ratio of 0.66 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 109, putting it in the top 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.