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Why Nucor (NUE) Dipped More Than Broader Market Today
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In the latest close session, Nucor (NUE - Free Report) was down 3.66% at $239.78. This change lagged the S&P 500's daily loss of 0.05%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the steel company had lost 0.16% in the past month. In that same time, the Basic Materials sector lost 2.52%, while the S&P 500 lost 1.42%.
Investors will be eagerly watching for the performance of Nucor in its upcoming earnings disclosure. On that day, Nucor is projected to report earnings of $4.35 per share, which would represent year-over-year growth of 67.31%. In the meantime, our current consensus estimate forecasts the revenue to be $9.87 billion, indicating a 16.71% 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 $17 per share and revenue of $38.34 billion. These totals would mark changes of +120.49% and +17.99%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nucor. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 10.23% rise in the Zacks Consensus EPS estimate. Currently, Nucor is carrying a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 14.64 right now. Its industry sports an average Forward P/E of 13.59, so one might conclude that Nucor is trading at a premium comparatively.
It's also important to note that NUE currently trades at a PEG ratio of 0.59. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Steel - Producers industry held an average PEG ratio of 0.46.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 29, this industry ranks in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Why Nucor (NUE) Dipped More Than Broader Market Today
In the latest close session, Nucor (NUE - Free Report) was down 3.66% at $239.78. This change lagged the S&P 500's daily loss of 0.05%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the steel company had lost 0.16% in the past month. In that same time, the Basic Materials sector lost 2.52%, while the S&P 500 lost 1.42%.
Investors will be eagerly watching for the performance of Nucor in its upcoming earnings disclosure. On that day, Nucor is projected to report earnings of $4.35 per share, which would represent year-over-year growth of 67.31%. In the meantime, our current consensus estimate forecasts the revenue to be $9.87 billion, indicating a 16.71% 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 $17 per share and revenue of $38.34 billion. These totals would mark changes of +120.49% and +17.99%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nucor. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 10.23% rise in the Zacks Consensus EPS estimate. Currently, Nucor is carrying a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 14.64 right now. Its industry sports an average Forward P/E of 13.59, so one might conclude that Nucor is trading at a premium comparatively.
It's also important to note that NUE currently trades at a PEG ratio of 0.59. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Steel - Producers industry held an average PEG ratio of 0.46.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 29, this industry ranks in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.