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) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Nucor (NUE - Free Report) closed the most recent trading day at $178.37, moving +1.47% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.62%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 12.91%.
Prior to today's trading, shares of the steel company had lost 0.51% over the past month. This has was narrower than the Basic Materials sector's loss of 2.43% and the S&P 500's loss of 4.54% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $4.09, down 46.68% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.12 per share and revenue of $32.04 billion, which would represent changes of -50.96% and -22.81%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 8.78% higher. Nucor is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 12.45 right now. For comparison, its industry has an average Forward P/E of 10.75, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 20, which puts 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) Gains But Lags Market: What You Should Know
Nucor (NUE - Free Report) closed the most recent trading day at $178.37, moving +1.47% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.62%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 12.91%.
Prior to today's trading, shares of the steel company had lost 0.51% over the past month. This has was narrower than the Basic Materials sector's loss of 2.43% and the S&P 500's loss of 4.54% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $4.09, down 46.68% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.12 per share and revenue of $32.04 billion, which would represent changes of -50.96% and -22.81%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 8.78% higher. Nucor is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 12.45 right now. For comparison, its industry has an average Forward P/E of 10.75, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 20, which puts 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.