The upcoming report from Nucor (NUE) is expected to reveal quarterly earnings of $0.68 per share, indicating a decline of 80.4% compared to the year-ago period. Analysts forecast revenues of $7.22 billion, representing a decrease of 11.3% year over year.
The current level reflects an upward revision of 2.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Nucor metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Net sales to external customers- Steel products' will reach $2.27 billion. The estimate suggests a change of -9.7% year over year.
The average prediction of analysts places 'Net sales to external customers- Steel mills' at $4.45 billion. The estimate points to a change of -13.9% from the year-ago quarter.
The combined assessment of analysts suggests that 'Net sales to external customers- Raw materials' will likely reach $488.50 million. The estimate suggests a change of +8.2% year over year.
The consensus estimate for 'Sales Tons to outside customer (Steel) - Total Steel Mills' stands at 4,751.93 KTon. Compared to the present estimate, the company reported 4,676 KTon in the same quarter last year.
Analysts' assessment points toward 'Sales in Tons Outside Customers - Total steel products' reaching 972.77 KTon. Compared to the current estimate, the company reported 965 KTon in the same quarter of the previous year.
It is projected by analysts that the 'Average Steel Product Price per ton' will reach 2,338.66 $/Ton. The estimate compares to the year-ago value of 2,608 $/Ton.
According to the collective judgment of analysts, 'Average sales price per ton (Steel) - Total Steel Mills' should come in at 924.59 $/Ton. Compared to the present estimate, the company reported 1,108 $/Ton in the same quarter last year.
Analysts expect 'Sales in Tons Outside Customers - Tubular products' to come in at 219.70 KTon. The estimate compares to the year-ago value of 208 KTon.
Based on the collective assessment of analysts, 'Sales in Tons Outside Customers - Other steel products' should arrive at 217.62 KTon. The estimate is in contrast to the year-ago figure of 142 KTon.
Analysts forecast 'Sales Tons to outside customer (Steel) - Bars' to reach 1,433.08 KTon. The estimate compares to the year-ago value of 1,344 KTon.
The collective assessment of analysts points to an estimated 'Sales Tons to outside customer (Steel) - Structural' of 436.78 KTon. Compared to the current estimate, the company reported 431 KTon in the same quarter of the previous year.
The consensus among analysts is that 'Sales Tons to outside customer (Steel) - Plate' will reach 454.26 KTon. The estimate compares to the year-ago value of 384 KTon.
View all Key Company Metrics for Nucor here>>>
Shares of Nucor have experienced a change of -14.1% in the past month compared to the -6.6% move of the Zacks S&P 500 composite. 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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