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In the latest trading session, Nucor (NUE - Free Report) closed at $266.35, marking a +2.09% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.5% for the day. On the other hand, the Dow registered a gain of 0.7%, and the technology-centric Nasdaq increased by 0.31%.
Coming into today, shares of the steel company had gained 12.05% in the past month. In that same time, the Basic Materials sector lost 6.25%, while the S&P 500 lost 0.23%.
The upcoming earnings release of Nucor will be of great interest to investors. The company is predicted to post an EPS of $4.46, indicating a 71.54% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $9.79 billion, indicating a 15.82% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.29 per share and a revenue of $37.25 billion, indicating changes of +98.31% and +14.63%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.3% higher. As of now, Nucor holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 17.07. Its industry sports an average Forward P/E of 14.73, so one might conclude that Nucor is trading at a premium comparatively.
Also, we should mention that NUE has a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Steel - Producers industry stood at 0.52 at the close of the market yesterday.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 29% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Nucor (NUE) Outpaced the Stock Market Today
In the latest trading session, Nucor (NUE - Free Report) closed at $266.35, marking a +2.09% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.5% for the day. On the other hand, the Dow registered a gain of 0.7%, and the technology-centric Nasdaq increased by 0.31%.
Coming into today, shares of the steel company had gained 12.05% in the past month. In that same time, the Basic Materials sector lost 6.25%, while the S&P 500 lost 0.23%.
The upcoming earnings release of Nucor will be of great interest to investors. The company is predicted to post an EPS of $4.46, indicating a 71.54% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $9.79 billion, indicating a 15.82% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.29 per share and a revenue of $37.25 billion, indicating changes of +98.31% and +14.63%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.3% higher. As of now, Nucor holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Nucor is holding a Forward P/E ratio of 17.07. Its industry sports an average Forward P/E of 14.73, so one might conclude that Nucor is trading at a premium comparatively.
Also, we should mention that NUE has a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Steel - Producers industry stood at 0.52 at the close of the market yesterday.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 29% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.