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Nucor (NUE) Stock Moves -0.89%: What You Should Know

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In the latest trading session, Nucor (NUE - Free Report) closed at $96.78, marking a -0.89% move from the previous day. This change was narrower than the S&P 500's 1.3% loss on the day.

Heading into today, shares of the steel company had lost 14.38% over the past month, lagging the Basic Materials sector's loss of 6.73% and the S&P 500's loss of 3.58% in that time.

Investors will be hoping for strength from NUE as it approaches its next earnings release. On that day, NUE is projected to report earnings of $6.87 per share, which would represent year-over-year growth of 990.48%. Our most recent consensus estimate is calling for quarterly revenue of $10.07 billion, up 104.27% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.19 per share and revenue of $35.51 billion. These totals would mark changes of +534.43% and +76.33%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for NUE. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.

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. The Zacks Consensus EPS estimate has moved 9.6% higher within the past month. NUE currently has a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that NUE has a Forward P/E ratio of 4.61 right now. Its industry sports an average Forward P/E of 4.27, so we one might conclude that NUE is trading at a premium comparatively.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.

To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.


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