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) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Nucor (NUE - Free Report) closed at $97.18 in the latest trading session, marking a +1.01% move from the prior day. This change outpaced the S&P 500's 0.95% gain on the day.
Heading into today, shares of the steel company had lost 21.94% over the past month, lagging the Basic Materials sector's loss of 4.11% and the S&P 500's loss of 1.87% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. On that day, NUE is projected to report earnings of $6.72 per share, which would represent year-over-year growth of 966.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.98 billion, up 102.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $20.31 per share and revenue of $35.35 billion, which would represent changes of +508.08% and +75.52%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.23% higher. NUE is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that NUE has a Forward P/E ratio of 4.74 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.08.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nucor (NUE) Outpaces Stock Market Gains: What You Should Know
Nucor (NUE - Free Report) closed at $97.18 in the latest trading session, marking a +1.01% move from the prior day. This change outpaced the S&P 500's 0.95% gain on the day.
Heading into today, shares of the steel company had lost 21.94% over the past month, lagging the Basic Materials sector's loss of 4.11% and the S&P 500's loss of 1.87% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. On that day, NUE is projected to report earnings of $6.72 per share, which would represent year-over-year growth of 966.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.98 billion, up 102.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $20.31 per share and revenue of $35.35 billion, which would represent changes of +508.08% and +75.52%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.23% higher. NUE is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that NUE has a Forward P/E ratio of 4.74 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.08.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% 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.