Analysts on Wall Street project that Nucor (NUE) will announce quarterly earnings of $2.62 per share in its forthcoming report, representing a decline of 2.2% year over year. Revenues are projected to reach $8.41 billion, increasing 4.1% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Nucor metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Net sales to external customers- Steel products' stands at $2.53 billion. The estimate suggests a change of -6.5% year over year.
It is projected by analysts that the 'Net sales to external customers- Steel mills' will reach $5.36 billion. The estimate points to a change of +10.3% from the year-ago quarter.
Analysts predict that the 'Net sales to external customers- Raw materials' will reach $517.16 million. The estimate suggests a change of +0.2% year over year.
Analysts' assessment points toward 'Sales Tons to outside customer (Steel) - Total Steel Mills' reaching 5255 thousands of tons. Compared to the present estimate, the company reported 4617 thousands of tons in the same quarter last year.
Analysts expect 'Sales in Tons Outside Customers - Total steel products' to come in at 1106 thousands of tons. The estimate compares to the year-ago value of 1074 thousands of tons.
Based on the collective assessment of analysts, 'Average Steel Product Price per ton' should arrive at 2284 dollars per tonne. The estimate compares to the year-ago value of 2517 dollars per tonne.
The combined assessment of analysts suggests that 'Average sales price per ton (Steel) - Total Steel Mills' will likely reach 1024 dollars per tonne. Compared to the present estimate, the company reported 1051 dollars per tonne in the same quarter last year.
The average prediction of analysts places 'Sales Tons to outside customer (Steel) - Sheet' at 2508 thousands of tons. Compared to the present estimate, the company reported 2869 thousands of tons in the same quarter last year.
Analysts forecast 'Sales Tons to outside customer (Steel) - Bars' to reach 1698 thousands of tons. The estimate compares to the year-ago value of 2005 thousands of tons.
The collective assessment of analysts points to an estimated 'Sales Tons to outside customer (Steel) - Structural' of 487 thousands of tons. The estimate compares to the year-ago value of 512 thousands of tons.
The consensus among analysts is that 'Sales Tons to outside customer (Steel) - Plate' will reach 574 thousands of tons. Compared to the current estimate, the company reported 448 thousands of tons in the same quarter of the previous year.
According to the collective judgment of analysts, 'Average scrap cost per ton' should come in at 389 dollars per tonne. Compared to the present estimate, the company reported 396 dollars per tonne in the same quarter last year.
View all Key Company Metrics for Nucor here>>>
Shares of Nucor have demonstrated returns of +12.2% over the past month compared to the Zacks S&P 500 composite's +5.9% change. With a Zacks Rank #3 (Hold), NUE is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Nucor Corporation (NUE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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