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Nucor (NUE) Falls More Steeply Than Broader Market: What Investors Need to Know
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Nucor (NUE - Free Report) closed at $254.63 in the latest trading session, marking a -1.85% move from the prior day. This move lagged the S&P 500's daily loss of 0.48%. Elsewhere, the Dow saw a downswing of 0.29%, while the tech-heavy Nasdaq depreciated by 0.56%.
Shares of the steel company have depreciated by 3.53% over the course of the past month, underperforming the Basic Materials sector's gain of 0.06%, and the S&P 500's loss of 0.82%.
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 $5.58, showcasing a 112.17% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.46 billion, indicating a 22.76% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.52 per share and a revenue of $40.11 billion, representing changes of +140.21% and +23.44%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.19% upward. Nucor is currently a Zacks Rank #3 (Hold).
In terms of valuation, Nucor is presently being traded at a Forward P/E ratio of 14.01. This signifies a discount in comparison to the average Forward P/E of 14.99 for its industry.
It is also worth noting that NUE currently has a PEG ratio of 0.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Producers industry had an average PEG ratio of 0.43 as trading concluded yesterday.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
View the Zacks #1 Rank List
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Nucor (NUE) Falls More Steeply Than Broader Market: What Investors Need to Know
Nucor (NUE - Free Report) closed at $254.63 in the latest trading session, marking a -1.85% move from the prior day. This move lagged the S&P 500's daily loss of 0.48%. Elsewhere, the Dow saw a downswing of 0.29%, while the tech-heavy Nasdaq depreciated by 0.56%.
Shares of the steel company have depreciated by 3.53% over the course of the past month, underperforming the Basic Materials sector's gain of 0.06%, and the S&P 500's loss of 0.82%.
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 $5.58, showcasing a 112.17% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.46 billion, indicating a 22.76% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.52 per share and a revenue of $40.11 billion, representing changes of +140.21% and +23.44%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nucor. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.19% upward. Nucor is currently a Zacks Rank #3 (Hold).
In terms of valuation, Nucor is presently being traded at a Forward P/E ratio of 14.01. This signifies a discount in comparison to the average Forward P/E of 14.99 for its industry.
It is also worth noting that NUE currently has a PEG ratio of 0.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Producers industry had an average PEG ratio of 0.43 as trading concluded yesterday.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.