In the latest trading session, Nucor (NUE) closed at $60.66, marking a +0.8% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow 0%, and the Nasdaq, a tech-heavy index, added 0.92%.
Heading into today, shares of the steel company had gained 8.98% over the past month, outpacing the Basic Materials sector's loss of 2% and the S&P 500's loss of 4.06% in that time.
Wall Street will be looking for positivity from NUE as it approaches its next earnings report date. This is expected to be January 29, 2019. On that day, NUE is projected to report earnings of $2 per share, which would represent year-over-year growth of 207.69%. Meanwhile, our latest consensus estimate is calling for revenue of $6.29 billion, up 23.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.56 per share and revenue of $25.09 billion. These totals would mark changes of +115.38% and +23.9%, respectively, from last year.
Any recent changes to analyst estimates for NUE should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.75% lower. NUE is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, NUE currently has a Forward P/E ratio of 8.02. Its industry sports an average Forward P/E of 8.59, so we one might conclude that NUE is trading at a discount comparatively.
Meanwhile, NUE's PEG ratio is currently 0.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NUE's industry had an average PEG ratio of 0.64 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.