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Nucor (NUE) closed the most recent trading day at $80.53, moving +0.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.02%.
Heading into today, shares of the steel company had gained 18.37% over the past month, outpacing the Basic Materials sector's gain of 5.63% and the S&P 500's gain of 6.61% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. This is expected to be April 22, 2021. On that day, NUE is projected to report earnings of $3.13 per share, which would represent year-over-year growth of 216.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.55 billion, up 34.16% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $7.86 per share and revenue of $28.28 billion. These results would represent year-over-year changes of +135.33% and +40.41%, respectively.
Investors should also note any recent changes to analyst estimates for NUE. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 65.51% higher. NUE is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note NUE's current valuation metrics, including its Forward P/E ratio of 10.22. This valuation marks a premium compared to its industry's average Forward P/E of 9.57.
Meanwhile, NUE's PEG ratio is currently 0.85. 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 Steel - Producers industry currently had an average PEG ratio of 0.63 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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.
To follow NUE in the coming trading sessions, be sure to utilize Zacks.com.
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