Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
The most recent trading session ended with Nucor (NUE) standing at $182.89, reflecting a -1.04% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.12% gain on the day. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.54%.
Coming into today, shares of the steel company had lost 0.69% in the past month. In that same time, the Basic Materials sector gained 5.41%, while the S&P 500 gained 2.06%.
Market participants will be closely following the financial results of Nucor in its upcoming release. It is anticipated that the company will report an EPS of $3.84, marking a 13.71% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.26 billion, down 5.16% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.47 per share and a revenue of $32.58 billion, signifying shifts of -25.17% and -6.13%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Nucor. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 4.11% rise in the Zacks Consensus EPS estimate. Nucor is currently a Zacks Rank #3 (Hold).
In terms of valuation, Nucor is presently being traded at a Forward P/E ratio of 13.72. This signifies a premium in comparison to the average Forward P/E of 10.17 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Nucor Corporation (NUE) : Free Stock Analysis Report
