Advertisement
UK markets close in 2 hours 35 minutes

  • FTSE 100

    8,081.64
    +41.26 (+0.51%)
     

  • FTSE 250

    19,695.06
    -24.31 (-0.12%)
     

  • AIM

    755.30
    +0.61 (+0.08%)
     

  • GBP/EUR

    1.1667
    +0.0023 (+0.19%)
     

  • GBP/USD

    1.2471
    +0.0009 (+0.07%)
     

  • Bitcoin GBP

    50,815.77
    -2,466.44 (-4.63%)
     

  • CMC Crypto 200

    1,359.84
    -22.73 (-1.64%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CRUDE OIL

    83.01
    +0.20 (+0.24%)
     

  • GOLD FUTURES

    2,340.80
    +2.40 (+0.10%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • DAX

    17,940.70
    -148.00 (-0.82%)
     

  • CAC 40

    7,998.45
    -93.41 (-1.15%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

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

Zacks Equity Research
Updated
The Zacks Analyst Blog Highlights: Walmart, Cognizant, Vale, Church & Dwight and Ball

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? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.

Nucor is one of 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NUE is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for NUE's full-year earnings has moved 19.09% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

ADVERTISEMENT

According to our latest data, NUE has moved about 0.61% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of -0.86% on a year-to-date basis. This means that Nucor is outperforming the sector as a whole this year.

Looking more specifically, NUE belongs to the Steel - Producers industry, which includes 25 individual stocks and currently sits at #34 in the Zacks Industry Rank. On average, this group has gained an average of 4.32% so far this year, meaning that NUE is slightly underperforming its industry in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track NUE. The stock will be looking to continue its solid performance.


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.