Nucor Corp. [NUE] stock is trading at $189.80, up 0.70%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The NUE shares have gain 2.69% over the last week, with a monthly amount glided 1.85%, and seem to be holding up well over a long-time horizon.
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On 14, March 2024, Nucor Announces Guidance for the First Quarter of 2024 Earnings. In a post published today on Yahoo Finance, Nucor Corporation (NYSE: NUE) today announced guidance for its first quarter ending March 30, 2024. Nucor expects first quarter earnings to be in the range of $3.55 to $3.65 per diluted share. Nucor reported net earnings of $3.16 per diluted share in the fourth quarter of 2023 and $4.45 per diluted share in the first quarter of 2023.
From an analyst’s perspective:
Nucor Corp. [NYSE: NUE] stock has seen the most recent analyst activity on March 13, 2024, when Citigroup upgraded its rating to a Buy and also boosted its price target to $240 from $180. Previously, UBS started tracking the stock with Buy rating on January 16, 2024, and set its price target to $210. On October 16, 2023, upgrade upgraded it’s rating to Neutral but maintained its price target of $151 on the stock. Exane BNP Paribas upgraded its rating to a Outperform but stick to its price target of $191 on July 05, 2023. Wolfe Research upgraded its rating to a Peer Perform. JP Morgan started tracking with a Underweight rating for this stock on May 23, 2023, and assigned it a price target of $130.
Nucor Corp. [NUE] stock has fluctuated between $129.79 and $195.00 over the past year. Currently, Wall Street analysts expect the stock to reach $147.86 within the next 12 months. Nucor Corp. [NYSE: NUE] shares were valued at $189.80 at the most recent close of the market. An investor can expect a potential drop of -22.1% based on the average NUE price forecast.
Analyzing the NUE fundamentals
Nucor Corp. [NYSE:NUE] reported sales of 34.71B for the trailing twelve months, which represents a drop of -11.69%. Gross Profit Margin for this corporation currently stands at 0.23% with Operating Profit Margin at 0.18%, Pretax Profit Margin comes in at 0.18%, and Net Profit Margin reading is 0.13%. To continue investigating profitability, this company’s Return on Assets is posted at 0.13, Equity is 0.23 and Total Capital is 0.2. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.32.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 188.09 points at the first support level, and at 186.37 for the second support level. However, for the 1st resistance point, the stock is sitting at 191.72, and for the 2nd resistance point, it is at 193.64.
Nucor Corp. [NUE] reported earnings per share of $3.16 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.9/share, meaning a difference of $0.26 and a surprise factor of 9.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $4.57 per share as compared to estimates of $4.25 per share, a difference of $0.32 representing a surprise of 7.50%.
Ratios To Look Out For
For context, Nucor Corp.’s Current Ratio is 3.57. In addition, the Quick Ratio stands at 2.35 and the Cash Ratio stands at 1.39. Considering the valuation of this stock, the price to sales ratio is 1.32, the price to book ratio is 2.22 and price to earnings (TTM) ratio is 10.55.
Transactions by insiders
Recent insider trading involved Topalian Leon J, Chair, President and CEO, that happened on Feb 06 ’24 when 16500.0 shares were sold. Executive Vice President, QUERY KENNETH REX completed a deal on Feb 01 ’24 to sell 5500.0 shares. Meanwhile, Executive Vice President Jellison Douglas J sold 11491.0 shares on Dec 20 ’23.
