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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
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Nucor (NUE - Free Report) closed the most recent trading day at $114.44, moving -1.85% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq added 0.15%.
Prior to today's trading, shares of the steel company had gained 3.29% over the past month. This has lagged the Basic Materials sector's gain of 4.05% and outpaced the S&P 500's gain of 2.36% in that time.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $7.83 per share. This would mark year-over-year growth of 484.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.45 billion, up 98.75% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Nucor. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.47% higher. Nucor is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 7.77. Its industry sports an average Forward P/E of 5.57, so we one might conclude that Nucor 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nucor (NUE) Dips More Than Broader Markets: What You Should Know
Nucor (NUE - Free Report) closed the most recent trading day at $114.44, moving -1.85% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq added 0.15%.
Prior to today's trading, shares of the steel company had gained 3.29% over the past month. This has lagged the Basic Materials sector's gain of 4.05% and outpaced the S&P 500's gain of 2.36% in that time.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $7.83 per share. This would mark year-over-year growth of 484.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.45 billion, up 98.75% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Nucor. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.47% higher. Nucor is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 7.77. Its industry sports an average Forward P/E of 5.57, so we one might conclude that Nucor 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.