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Nucor (NUE) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, Nucor (NUE - Free Report) closed at $147.95, marking a -1.07% move from the previous day. This change lagged the S&P 500's daily gain of 0.41%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.44%.
The steel company's stock has climbed by 3.48% in the past month, exceeding the Basic Materials sector's gain of 2.48% and the S&P 500's gain of 0.87%.
Analysts and investors alike will be keeping a close eye on the performance of Nucor in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.49, showcasing a 67.11% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.36 billion, indicating a 12.28% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.25 per share and revenue of $32.39 billion. These totals would mark changes of -7.3% and +5.4%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.49% higher. Nucor is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 18.12 right now. This represents a premium compared to its industry average Forward P/E of 13.87.
Investors should also note that NUE has a PEG ratio of 0.95 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NUE's industry had an average PEG ratio of 1.02 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Nucor (NUE - Free Report) closed at $147.95, marking a -1.07% move from the previous day. This change lagged the S&P 500's daily gain of 0.41%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.44%.
The steel company's stock has climbed by 3.48% in the past month, exceeding the Basic Materials sector's gain of 2.48% and the S&P 500's gain of 0.87%.
Analysts and investors alike will be keeping a close eye on the performance of Nucor in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.49, showcasing a 67.11% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.36 billion, indicating a 12.28% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.25 per share and revenue of $32.39 billion. These totals would mark changes of -7.3% and +5.4%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.49% higher. Nucor is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 18.12 right now. This represents a premium compared to its industry average Forward P/E of 13.87.
Investors should also note that NUE has a PEG ratio of 0.95 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NUE's industry had an average PEG ratio of 1.02 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.