Nucor (NUE) Moves 4.8% Higher: Will This Strength Last?

Nucor (NUE) Moves 4.8% Higher: Will This Strength Last?
This story originally appeared on Zacks

Nucor (NUE) shares soared 4.8% in the last trading session to close at $122.72. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 2.7% gain over the past four weeks.

Nucor (NUE) Moves 4.8% Higher: Will This Strength Last? – Zacks

NUE’s shares popped after it was mentioned positively on CNBC. NUE also received a boost after it was added to Investor’s Business Daily’s Leaderboard portfolio.

This steel company is expected to post quarterly earnings of $7.68 per share in its upcoming report, which represents a year-over-year change of +473.1%. Revenues are expected to be $10.45 billion, up 98.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions…

Continue reading

Leave a Reply

Your email address will not be published. Required fields are marked *