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Nucor (NUE) Gains But Lags Market: What You Should Know

Nucor (NUE) closed at $133.03 in the latest trading session, marking a +0.73% move from the prior day. This move lagged the S&P 500's daily gain of 0.99%.

Prior to today's trading, shares of the steel company had lost 9.67% over the past month. This has lagged the Basic Materials sector's loss of 7.94% and the S&P 500's gain of 0.42% in that time.

Investors will be hoping for strength from Nucor as it approaches its next earnings release. In that report, analysts expect Nucor to post earnings of $5.32 per share. This would mark a year-over-year decline of 44.98%. Our most recent consensus estimate is calling for quarterly revenue of $8.99 billion, down 23.77% from the year-ago period.

NUE's full-year Zacks Consensus Estimates are calling for earnings of $17 per share and revenue of $35.45 billion. These results would represent year-over-year changes of -40.95% and -14.61%, respectively.

Investors might also notice recent changes to analyst estimates for Nucor. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.3% lower within the past month. Nucor currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Nucor has a Forward P/E ratio of 7.77 right now. Its industry sports an average Forward P/E of 7.7, so we one might conclude that Nucor is trading at a premium comparatively.

The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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