Nucor (NUE) closed the most recent trading day at $99.94, moving -1.94% from the previous trading session. This move lagged the S&P 500's daily loss of 0.54%.
Coming into today, shares of the steel company had lost 1.5% in the past month. In that same time, the Basic Materials sector lost 2.3%, while the S&P 500 gained 1.91%.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. The company is expected to report EPS of $4.49, up 1147.22% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.42 billion, up 94.54% from the year-ago period.
NUE's full-year Zacks Consensus Estimates are calling for earnings of $12.87 per share and revenue of $30.91 billion. These results would represent year-over-year changes of +285.33% and +53.48%, respectively.
Any recent changes to analyst estimates for NUE should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 10.97% higher within the past month. NUE is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, NUE is holding a Forward P/E ratio of 7.92. This represents a premium compared to its industry's average Forward P/E of 7.82.
Also, we should mention that NUE has a PEG ratio of 0.66. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NUE's industry had an average PEG ratio of 0.46 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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