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Nucor (NUE) Increases Yet Falls Behind Market: What Investors Need to Know
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Nucor (NUE - Free Report) ended the recent trading session at $170.41, demonstrating a +0.26% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.59%. On the other hand, the Dow registered a gain of 0.82%, and the technology-centric Nasdaq increased by 0.55%.
Coming into today, shares of the steel company had gained 12.37% in the past month. In that same time, the Basic Materials sector gained 7.82%, while the S&P 500 gained 9.16%.
Investors will be eagerly watching for the performance of Nucor in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.09, signifying a 36.81% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $7.52 billion, indicating a 13.85% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.94 per share and revenue of $34.53 billion. These totals would mark changes of -37.69% and -16.83%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nucor. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.31% upward. Right now, Nucor possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Nucor is at present trading with a Forward P/E ratio of 9.48. This signifies a premium in comparison to the average Forward P/E of 8.6 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Increases Yet Falls Behind Market: What Investors Need to Know
Nucor (NUE - Free Report) ended the recent trading session at $170.41, demonstrating a +0.26% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.59%. On the other hand, the Dow registered a gain of 0.82%, and the technology-centric Nasdaq increased by 0.55%.
Coming into today, shares of the steel company had gained 12.37% in the past month. In that same time, the Basic Materials sector gained 7.82%, while the S&P 500 gained 9.16%.
Investors will be eagerly watching for the performance of Nucor in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.09, signifying a 36.81% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $7.52 billion, indicating a 13.85% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.94 per share and revenue of $34.53 billion. These totals would mark changes of -37.69% and -16.83%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nucor. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.31% upward. Right now, Nucor possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Nucor is at present trading with a Forward P/E ratio of 9.48. This signifies a premium in comparison to the average Forward P/E of 8.6 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.