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Nucor (NUE) Dips More Than Broader Markets: What You Should Know

·3 min read

Nucor (NUE) closed the most recent trading day at $139.56, moving -0.68% from the previous trading session. This change lagged the S&P 500's daily loss of 0.67%. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 0.14%.

Prior to today's trading, shares of the steel company had gained 3.47% over the past month. This has lagged the Basic Materials sector's gain of 8.36% and the S&P 500's gain of 3.65% in that time.

Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $7.97, up 9.48% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.61 billion, up 2.86% from the year-ago period.

NUE's full-year Zacks Consensus Estimates are calling for earnings of $31.01 per share and revenue of $42.15 billion. These results would represent year-over-year changes of +33.89% and +15.53%, respectively.

Any recent changes to analyst estimates for Nucor should also be noted by investors. 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 company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.38% lower. Nucor is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Nucor's current valuation metrics, including its Forward P/E ratio of 4.53. This valuation marks a premium compared to its industry's average Forward P/E of 2.96.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 15% of all 250+ industries.

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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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