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Nucor (NUE) Stock Sinks As Market Gains: What You Should Know

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Nucor (NUE - Free Report) closed at $146.84 in the latest trading session, marking a -0.74% move from the prior day. This move lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 5.66%.

Heading into today, shares of the steel company had gained 7.49% over the past month, outpacing the Basic Materials sector's loss of 1.53% and the S&P 500's gain of 3.44% 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 $5.32 per share, which would represent a year-over-year decline of 44.98%. Our most recent consensus estimate is calling for quarterly revenue of $8.99 billion, down 23.77% from the year-ago period.

NUE's full-year Zacks Consensus Estimates are calling for earnings of $17 per share and revenue of $35.45 billion. These results would represent year-over-year changes of -40.95% and -14.61%, respectively.

It is also important to note the recent changes to analyst estimates for Nucor. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. Within the past 30 days, our consensus EPS projection has moved 2.62% higher. Nucor is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 8.7. This represents a premium compared to its industry's average Forward P/E of 7.24.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on

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