Nucor (NUE) Stock Moves -0.03%: What You Should Know
Nucor (NUE) closed the most recent trading day at $117.81, moving -0.03% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.37%.
Heading into today, shares of the steel company had lost 13.1% over the past month, lagging the Basic Materials sector's gain of 1.01% and the S&P 500's loss of 3.51% in that time.
Investors will be hoping for strength from Nucor as it approaches its next earnings release. In that report, analysts expect Nucor to post earnings of $6.45 per share. This would mark a year-over-year decline of 11.4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.06 billion, down 2.46% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $29.84 per share and revenue of $41.58 billion. These results would represent year-over-year changes of +28.84% and +13.95%, respectively.
Any recent changes to analyst estimates for Nucor should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 3.79% lower. Nucor is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Nucor is holding a Forward P/E ratio of 3.95. This valuation marks a premium compared to its industry's average Forward P/E of 2.87.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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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