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Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
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Nucor (NUE - Free Report) closed the latest trading day at $138.44, indicating a -1.51% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.82%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 1.77%.
The steel company's stock has dropped by 8.66% in the past month, falling short of the Basic Materials sector's loss of 3.35% and the S&P 500's gain of 0.8%.
Analysts and investors alike will be keeping a close eye on the performance of Nucor in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.92, marking a 70.89% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.72 billion, reflecting a 12.82% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.50 per share and a revenue of $30.38 billion, representing changes of -52.78% and -12.5%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Nucor. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 1.23% lower. As of now, Nucor holds a Zacks Rank of #5 (Strong Sell).
Looking at valuation, Nucor is presently trading at a Forward P/E ratio of 16.54. This signifies a premium in comparison to the average Forward P/E of 12.22 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 203, finds itself in the bottom 20% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
Nucor (NUE - Free Report) closed the latest trading day at $138.44, indicating a -1.51% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.82%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 1.77%.
The steel company's stock has dropped by 8.66% in the past month, falling short of the Basic Materials sector's loss of 3.35% and the S&P 500's gain of 0.8%.
Analysts and investors alike will be keeping a close eye on the performance of Nucor in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.92, marking a 70.89% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.72 billion, reflecting a 12.82% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.50 per share and a revenue of $30.38 billion, representing changes of -52.78% and -12.5%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Nucor. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 1.23% lower. As of now, Nucor holds a Zacks Rank of #5 (Strong Sell).
Looking at valuation, Nucor is presently trading at a Forward P/E ratio of 16.54. This signifies a premium in comparison to the average Forward P/E of 12.22 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 203, finds itself in the bottom 20% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.