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Nucor (NUE) Gains As Market Dips: What You Should Know
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Nucor (NUE - Free Report) closed at $135.25 in the latest trading session, marking a +1.27% move from the prior day. This move outpaced the S&P 500's daily loss of 1.3%. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.37%.
Prior to today's trading, shares of the steel company had gained 9.84% over the past month. This has outpaced the Basic Materials sector's gain of 6.93% and the S&P 500's loss of 5.33% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. On that day, Nucor is projected to report earnings of $7.33 per share, which would represent year-over-year growth of 136.45%. Our most recent consensus estimate is calling for quarterly revenue of $10.03 billion, up 42.89% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.79 per share and revenue of $35.7 billion, which would represent changes of -14.55% and -2.15%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 11.93% higher. Nucor is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 6.75. This represents a premium compared to its industry's average Forward P/E of 4.46.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Gains As Market Dips: What You Should Know
Nucor (NUE - Free Report) closed at $135.25 in the latest trading session, marking a +1.27% move from the prior day. This move outpaced the S&P 500's daily loss of 1.3%. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.37%.
Prior to today's trading, shares of the steel company had gained 9.84% over the past month. This has outpaced the Basic Materials sector's gain of 6.93% and the S&P 500's loss of 5.33% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. On that day, Nucor is projected to report earnings of $7.33 per share, which would represent year-over-year growth of 136.45%. Our most recent consensus estimate is calling for quarterly revenue of $10.03 billion, up 42.89% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.79 per share and revenue of $35.7 billion, which would represent changes of -14.55% and -2.15%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 11.93% higher. Nucor is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 6.75. This represents a premium compared to its industry's average Forward P/E of 4.46.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.