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Nucor (NUE) Gains But Lags Market: What You Should Know
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Nucor (NUE - Free Report) closed the most recent trading day at $165.40, moving +0.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.67%. Meanwhile, the Dow gained 0.73%, and the Nasdaq, a tech-heavy index, added 0.94%.
Heading into today, shares of the steel company had lost 2.02% over the past month, outpacing the Basic Materials sector's loss of 4.28% and the S&P 500's loss of 3.8% in that time.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $4.77 per share. This would mark a year-over-year decline of 26.62%. Meanwhile, our latest consensus estimate is calling for revenue of $9.14 billion, down 12.94% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.76 per share and revenue of $35.8 billion. These totals would mark changes of -34.84% and -13.77%, respectively, from last 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. 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.
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 2.28% higher. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 8.8 right now. Its industry sports an average Forward P/E of 8.18, so we one might conclude that Nucor is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nucor (NUE) Gains But Lags Market: What You Should Know
Nucor (NUE - Free Report) closed the most recent trading day at $165.40, moving +0.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.67%. Meanwhile, the Dow gained 0.73%, and the Nasdaq, a tech-heavy index, added 0.94%.
Heading into today, shares of the steel company had lost 2.02% over the past month, outpacing the Basic Materials sector's loss of 4.28% and the S&P 500's loss of 3.8% in that time.
Nucor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nucor to post earnings of $4.77 per share. This would mark a year-over-year decline of 26.62%. Meanwhile, our latest consensus estimate is calling for revenue of $9.14 billion, down 12.94% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.76 per share and revenue of $35.8 billion. These totals would mark changes of -34.84% and -13.77%, respectively, from last 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. 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.
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 2.28% higher. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 8.8 right now. Its industry sports an average Forward P/E of 8.18, so we one might conclude that Nucor is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.