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Nucor (NUE) Stock Moves -0.52%: What You Should Know
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Nucor (NUE - Free Report) ended the recent trading session at $199.10, demonstrating a -0.52% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.36%, while the tech-heavy Nasdaq lost 1.4%.
The the stock of steel company has risen by 8.39% in the past month, leading the Basic Materials sector's gain of 7.94% and the S&P 500's gain of 1.61%.
Market participants will be closely following the financial results of Nucor in its upcoming release. The company plans to announce its earnings on April 22, 2024. The company is expected to report EPS of $3.61, down 18.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.08 billion, down 7.21% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.16 per share and a revenue of $32.07 billion, representing changes of -26.89% and -7.63%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 moved 3.5% lower. Nucor is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Nucor is currently exchanging hands at a Forward P/E ratio of 15.22. For comparison, its industry has an average Forward P/E of 11.11, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
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) Stock Moves -0.52%: What You Should Know
Nucor (NUE - Free Report) ended the recent trading session at $199.10, demonstrating a -0.52% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.36%, while the tech-heavy Nasdaq lost 1.4%.
The the stock of steel company has risen by 8.39% in the past month, leading the Basic Materials sector's gain of 7.94% and the S&P 500's gain of 1.61%.
Market participants will be closely following the financial results of Nucor in its upcoming release. The company plans to announce its earnings on April 22, 2024. The company is expected to report EPS of $3.61, down 18.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.08 billion, down 7.21% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.16 per share and a revenue of $32.07 billion, representing changes of -26.89% and -7.63%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 moved 3.5% lower. Nucor is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Nucor is currently exchanging hands at a Forward P/E ratio of 15.22. For comparison, its industry has an average Forward P/E of 11.11, which means Nucor is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.