Investors focused on the Basic Materials space have likely heard of Nucor (NUE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Nucor is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NUE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NUE's full-year earnings has moved 30.30% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, NUE has moved about 0.85% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 3.85%. As we can see, Nucor is performing better than its sector in the calendar year.
To break things down more, NUE belongs to the Steel - Producers industry, a group that includes 25 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, stocks in this group have lost 1.56% this year, meaning that NUE is performing better in terms of year-to-date returns.
NUE will likely be looking to continue its solid performance, so investors interested Basic Materials stocks should continue to pay close attention to the company.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Investors focused on the Basic Materials space have likely heard of Nucor (NUE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Nucor is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NUE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NUE's full-year earnings has moved 30.30% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, NUE has moved about 0.85% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 3.85%. As we can see, Nucor is performing better than its sector in the calendar year.
To break things down more, NUE belongs to the Steel - Producers industry, a group that includes 25 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, stocks in this group have lost 1.56% this year, meaning that NUE is performing better in terms of year-to-date returns.
NUE will likely be looking to continue its solid performance, so investors interested Basic Materials stocks should continue to pay close attention to the company.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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