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Nucor (NUE) Stock Moves -0.21%: What You Should Know
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Nucor (NUE - Free Report) closed at $160.12 in the latest trading session, marking a -0.21% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.79%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Coming into today, shares of the steel company had gained 8.46% in the past month. In that same time, the Basic Materials sector gained 1.43%, while the S&P 500 gained 4.16%.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, Nucor is projected to report earnings of $5.66 per share, which would represent a year-over-year decline of 41.47%. Meanwhile, our latest consensus estimate is calling for revenue of $9.76 billion, down 17.27% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.78 per share and revenue of $36.04 billion, which would represent changes of -34.77% and -13.18%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of 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. 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, 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 1.92% higher. Nucor is currently a Zacks Rank #3 (Hold).
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 8.54. Its industry sports an average Forward P/E of 8.54, so we one might conclude that Nucor is trading at a no noticeable deviation comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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.
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Nucor (NUE) Stock Moves -0.21%: What You Should Know
Nucor (NUE - Free Report) closed at $160.12 in the latest trading session, marking a -0.21% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.79%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Coming into today, shares of the steel company had gained 8.46% in the past month. In that same time, the Basic Materials sector gained 1.43%, while the S&P 500 gained 4.16%.
Wall Street will be looking for positivity from Nucor as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, Nucor is projected to report earnings of $5.66 per share, which would represent a year-over-year decline of 41.47%. Meanwhile, our latest consensus estimate is calling for revenue of $9.76 billion, down 17.27% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.78 per share and revenue of $36.04 billion, which would represent changes of -34.77% and -13.18%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of 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. 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, 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 1.92% higher. Nucor is currently a Zacks Rank #3 (Hold).
In terms of valuation, Nucor is currently trading at a Forward P/E ratio of 8.54. Its industry sports an average Forward P/E of 8.54, so we one might conclude that Nucor is trading at a no noticeable deviation comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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.