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Nucor (NUE) Declines More Than Market: Some Information for Investors
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Nucor (NUE - Free Report) closed at $146.40 in the latest trading session, marking a -1.57% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.69%. Elsewhere, the Dow saw a downswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.82%.
Shares of the steel company have appreciated by 8.58% over the course of the past month, underperforming the Basic Materials sector's gain of 9.38%, and outperforming the S&P 500's gain of 3.79%.
The upcoming earnings release of Nucor will be of great interest to investors. The company is predicted to post an EPS of $2.49, indicating a 67.11% growth compared to the equivalent quarter last 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.25 per share and revenue of $32.39 billion, indicating changes of -7.3% and +5.4%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Nucor should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. At present, Nucor boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Nucor currently has a Forward P/E ratio of 18.02. This denotes a premium relative to the industry average Forward P/E of 12.64.
Also, we should mention that NUE has a PEG ratio of 0.95. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Steel - Producers industry stood at 0.74 at the close of the market yesterday.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.
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Nucor (NUE) Declines More Than Market: Some Information for Investors
Nucor (NUE - Free Report) closed at $146.40 in the latest trading session, marking a -1.57% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.69%. Elsewhere, the Dow saw a downswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.82%.
Shares of the steel company have appreciated by 8.58% over the course of the past month, underperforming the Basic Materials sector's gain of 9.38%, and outperforming the S&P 500's gain of 3.79%.
The upcoming earnings release of Nucor will be of great interest to investors. The company is predicted to post an EPS of $2.49, indicating a 67.11% growth compared to the equivalent quarter last 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.25 per share and revenue of $32.39 billion, indicating changes of -7.3% and +5.4%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Nucor should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. At present, Nucor boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Nucor currently has a Forward P/E ratio of 18.02. This denotes a premium relative to the industry average Forward P/E of 12.64.
Also, we should mention that NUE has a PEG ratio of 0.95. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Steel - Producers industry stood at 0.74 at the close of the market yesterday.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.