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Nucor (NUE) Stock Moves -0.33%: What You Should Know
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Nucor (NUE - Free Report) closed the latest trading day at $147.06, indicating a -0.33% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
The steel company's shares have seen a decrease of 10.86% over the last month, not keeping up with the Basic Materials sector's loss of 5.28% and the S&P 500's loss of 2.4%.
The investment community will be paying close attention to the earnings performance of Nucor in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. On that day, Nucor is projected to report earnings of $4.18 per share, which would represent a year-over-year decline of 35.69%. In the meantime, our current consensus estimate forecasts the revenue to be $8.53 billion, indicating a 18.73% decline compared to the corresponding quarter of the prior year.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $17.79 per share and revenue of $34.49 billion. These results would represent year-over-year changes of -38.21% and -16.92%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Nucor. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has moved 4.52% lower. Nucor is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 8.3 right now. For comparison, its industry has an average Forward P/E of 8.15, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 35% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Nucor (NUE) Stock Moves -0.33%: What You Should Know
Nucor (NUE - Free Report) closed the latest trading day at $147.06, indicating a -0.33% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
The steel company's shares have seen a decrease of 10.86% over the last month, not keeping up with the Basic Materials sector's loss of 5.28% and the S&P 500's loss of 2.4%.
The investment community will be paying close attention to the earnings performance of Nucor in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. On that day, Nucor is projected to report earnings of $4.18 per share, which would represent a year-over-year decline of 35.69%. In the meantime, our current consensus estimate forecasts the revenue to be $8.53 billion, indicating a 18.73% decline compared to the corresponding quarter of the prior year.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $17.79 per share and revenue of $34.49 billion. These results would represent year-over-year changes of -38.21% and -16.92%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Nucor. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has moved 4.52% lower. Nucor is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 8.3 right now. For comparison, its industry has an average Forward P/E of 8.15, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 35% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.