Yahoo Finance Nucor (NUE) Stock Sinks As Market Gains: What You Should Know
Nucor (NUE) ended the recent trading session at $155.43, demonstrating a -1.2% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.27%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.88%.
Shares of the steel company witnessed a loss of 9.46% over the previous month, trailing the performance of the Basic Materials sector with its loss of 2.41% and the S&P 500's gain of 2.85%.
Investors will be eagerly watching for the performance of Nucor in its upcoming earnings disclosure. The company is predicted to post an EPS of $3.07, indicating a 47.16% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.16 billion, indicating a 14.31% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $12.54 per share and a revenue of $31.69 billion, demonstrating changes of -30.33% and -8.71%, respectively, from the preceding year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.83% higher within the past month. At present, Nucor boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 12.54 right now. This indicates a premium in contrast to its industry's Forward P/E of 10.21.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 158, placing it within the bottom 38% of over 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
