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Nucor (NUE) Gains As Market Dips: What You Should Know
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In the latest trading session, Nucor (NUE - Free Report) closed at $107.07, marking a +1.94% move from the previous day. This move outpaced the S&P 500's daily loss of 0.36%.
Heading into today, shares of the steel company had gained 13.14% over the past month, outpacing the Basic Materials sector's gain of 8.34% and the S&P 500's gain of 0.75% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. In that report, analysts expect NUE to post earnings of $3.72 per share. This would mark year-over-year growth of 933.33%. Our most recent consensus estimate is calling for quarterly revenue of $8.42 billion, up 94.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.29 per share and revenue of $29.13 billion, which would represent changes of +238.02% and +44.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NUE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.89% higher. NUE currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, NUE is holding a Forward P/E ratio of 9.31. This represents a premium compared to its industry's average Forward P/E of 7.26.
Meanwhile, NUE's PEG ratio is currently 0.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.54 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 8, which puts it in the top 4% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Nucor (NUE - Free Report) closed at $107.07, marking a +1.94% move from the previous day. This move outpaced the S&P 500's daily loss of 0.36%.
Heading into today, shares of the steel company had gained 13.14% over the past month, outpacing the Basic Materials sector's gain of 8.34% and the S&P 500's gain of 0.75% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. In that report, analysts expect NUE to post earnings of $3.72 per share. This would mark year-over-year growth of 933.33%. Our most recent consensus estimate is calling for quarterly revenue of $8.42 billion, up 94.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.29 per share and revenue of $29.13 billion, which would represent changes of +238.02% and +44.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NUE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.89% higher. NUE currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, NUE is holding a Forward P/E ratio of 9.31. This represents a premium compared to its industry's average Forward P/E of 7.26.
Meanwhile, NUE's PEG ratio is currently 0.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.54 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 8, which puts it in the top 4% 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.