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Nucor (NUE) Stock Moves -0.47%: What You Should Know
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Nucor (NUE - Free Report) closed at $162.53 in the latest trading session, marking a -0.47% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.05%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 1.64%.
Coming into today, shares of the steel company had lost 3.85% in the past month. In that same time, the Basic Materials sector lost 4.44%, while the S&P 500 gained 0.01%.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $4.03, down 47.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.6 billion, down 18.09% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $13.09 per share and revenue of $32.04 billion. These results would represent year-over-year changes of -54.53% and -22.81%, respectively.
Any recent changes to analyst estimates for Nucor should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 1% higher within the past month. Nucor is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 12.48. For comparison, its industry has an average Forward P/E of 10.36, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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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Nucor (NUE) Stock Moves -0.47%: What You Should Know
Nucor (NUE - Free Report) closed at $162.53 in the latest trading session, marking a -0.47% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.05%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 1.64%.
Coming into today, shares of the steel company had lost 3.85% in the past month. In that same time, the Basic Materials sector lost 4.44%, while the S&P 500 gained 0.01%.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $4.03, down 47.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.6 billion, down 18.09% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $13.09 per share and revenue of $32.04 billion. These results would represent year-over-year changes of -54.53% and -22.81%, respectively.
Any recent changes to analyst estimates for Nucor should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 1% higher within the past month. Nucor is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 12.48. For comparison, its industry has an average Forward P/E of 10.36, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.