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Nucor (NUE) Rises As Market Takes a Dip: Key Facts
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Nucor (NUE - Free Report) ended the recent trading session at $200, demonstrating a +1.06% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq added 0.11%.
Prior to today's trading, shares of the steel company had gained 3.78% over the past month. This has lagged the Basic Materials sector's gain of 6.88% and outpaced the S&P 500's gain of 3.32% in that time.
The investment community will be closely monitoring the performance of Nucor in its forthcoming earnings report. The company is scheduled to release its earnings on April 22, 2024. The company is predicted to post an EPS of $3.86, indicating a 13.26% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.08 billion, down 7.21% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.04 per share and revenue of $32.07 billion, indicating changes of -22% and -7.61%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.21% increase. Nucor presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Nucor currently has a Forward P/E ratio of 14.1. This valuation marks a premium compared to its industry's average Forward P/E of 11.23.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 162, finds itself in the bottom 36% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Nucor (NUE) Rises As Market Takes a Dip: Key Facts
Nucor (NUE - Free Report) ended the recent trading session at $200, demonstrating a +1.06% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq added 0.11%.
Prior to today's trading, shares of the steel company had gained 3.78% over the past month. This has lagged the Basic Materials sector's gain of 6.88% and outpaced the S&P 500's gain of 3.32% in that time.
The investment community will be closely monitoring the performance of Nucor in its forthcoming earnings report. The company is scheduled to release its earnings on April 22, 2024. The company is predicted to post an EPS of $3.86, indicating a 13.26% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.08 billion, down 7.21% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.04 per share and revenue of $32.07 billion, indicating changes of -22% and -7.61%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.21% increase. Nucor presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Nucor currently has a Forward P/E ratio of 14.1. This valuation marks a premium compared to its industry's average Forward P/E of 11.23.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 162, finds itself in the bottom 36% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.