Advertisement
Canada markets closed

  • S&P/TSX

    21,969.24
    +83.86 (+0.38%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CAD/USD

    0.7316
    -0.0007 (-0.09%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • Bitcoin CAD

    87,523.84
    -1,258.29 (-1.42%)
     

  • CMC Crypto 200

    1,383.71
    -12.82 (-0.92%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • RUSSELL 2000

    2,002.00
    +20.88 (+1.05%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • NASDAQ

    15,927.90
    +316.14 (+2.03%)
     

  • VOLATILITY

    15.03
    -0.34 (-2.21%)
     

  • FTSE

    8,139.83
    +60.97 (+0.75%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6838
    +0.0017 (+0.25%)
     
MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT RESULTS

Chevron, Exxon under pressure as falling natural gas prices hit earnings

Has Nucor (NUE) Outpaced Other Basic Materials Stocks This Year?

Zacks Equity Research
Updated
RLI Corp. (RLI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Investors focused on the Basic Materials space have likely heard of Nucor (NUE), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Nucor is a member of our Basic Materials group, which includes 240 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. NUE is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for NUE's full-year earnings has moved 30.30% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

ADVERTISEMENT

Based on the most recent data, NUE has returned 0.46% so far this year. In comparison, Basic Materials companies have returned an average of -3.78%. This means that Nucor is outperforming the sector as a whole this year.

Looking more specifically, NUE belongs to the Steel - Producers industry, a group that includes 25 individual stocks and currently sits at #62 in the Zacks Industry Rank. On average, stocks in this group have lost 1.72% this year, meaning that NUE is performing better in terms of year-to-date returns.

NUE will likely be looking to continue its solid performance, so investors interested Basic Materials stocks should continue to pay close attention to the company.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Nucor Corporation (NUE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.