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Nucor (NUE) Beats Stock Market Upswing: What Investors Need to Know
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Nucor (NUE - Free Report) closed at $166.72 in the latest trading session, marking a +1.81% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 1.37%. Meanwhile, the Dow experienced a rise of 1.4%, and the technology-dominated Nasdaq saw an increase of 1.38%.
The steel company's shares have seen an increase of 5.67% over the last month, not keeping up with the Basic Materials sector's gain of 5.69% and outstripping the S&P 500's gain of 5.37%.
Investors will be eagerly watching for the performance of Nucor in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.09, showcasing a 36.81% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.52 billion, showing a 13.85% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $17.94 per share and revenue of $34.53 billion, which would represent changes of -37.69% and -16.83%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.65% increase. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Nucor is presently trading at a Forward P/E ratio of 9.13. This signifies a premium in comparison to the average Forward P/E of 8.4 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Nucor (NUE) Beats Stock Market Upswing: What Investors Need to Know
Nucor (NUE - Free Report) closed at $166.72 in the latest trading session, marking a +1.81% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 1.37%. Meanwhile, the Dow experienced a rise of 1.4%, and the technology-dominated Nasdaq saw an increase of 1.38%.
The steel company's shares have seen an increase of 5.67% over the last month, not keeping up with the Basic Materials sector's gain of 5.69% and outstripping the S&P 500's gain of 5.37%.
Investors will be eagerly watching for the performance of Nucor in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.09, showcasing a 36.81% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.52 billion, showing a 13.85% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $17.94 per share and revenue of $34.53 billion, which would represent changes of -37.69% and -16.83%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.65% increase. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Nucor is presently trading at a Forward P/E ratio of 9.13. This signifies a premium in comparison to the average Forward P/E of 8.4 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.