Nucor (NUE) Stock Moves -0.25%: What You Should Know
In the latest trading session, Nucor (NUE) closed at $143.47, marking a -0.25% move from the previous day. This change traded in line with S&P 500. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Coming into today, shares of the steel company had lost 15.99% in the past month. In that same time, the Basic Materials sector lost 2.72%, while the S&P 500 gained 1.48%.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. The company is expected to report EPS of $3.90, down 49.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.17 billion, down 22.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.75 per share and revenue of $33.77 billion. These totals would mark changes of -48.77% and -18.66%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Nucor. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 4.46% higher within the past month. Nucor is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 9.75 right now. Its industry sports an average Forward P/E of 8.86, so we one might conclude that Nucor is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nucor Corporation (NUE) : Free Stock Analysis Report
