Nucor Corporation [NYSE: NUE] stock went on an upward path that rose over 0.55% on Friday, amounting to a one-week price increase of more than 10.27%. The company report on July 22, 2021 that Nucor Reports Record Quarterly Earnings for the Second Quarter of 2021.
Nucor Corporation (NYSE: NUE) announced record quarterly consolidated net earnings of $1.51 billion, or $5.04 per diluted share, for the second quarter of 2021. By comparison, Nucor reported consolidated net earnings of $942.4 million, or $3.10 per diluted share, for the first quarter of 2021 and $108.9 million, or $0.36 per diluted share, for the second quarter of 2020.
In the first six months of 2021, Nucor reported consolidated net earnings of $2.45 billion, or $8.13 per diluted share, compared with consolidated net earnings of $129.2 million, or $0.42 per diluted share, in the first six months of 2020.
Over the last 12 months, NUE stock rose by 143.61%. The one-year Nucor Corporation stock forecast points to a potential downside of -8.13. The average equity rating for NUE stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $30.96 billion, with 301.85 million shares outstanding and 297.72 million shares in the current float. Compared to the average trading volume of 3.51M shares, NUE stock reached a trading volume of 4770495 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Nucor Corporation [NUE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NUE shares is $96.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NUE stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Nucor Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 16, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price from $56 to $80. The new note on the price target was released on April 20, 2021, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another raise to $86, while Goldman analysts kept a Buy rating on NUE stock.
The Average True Range (ATR) for Nucor Corporation is set at 3.25, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 1.54. The Price to Book ratio for the last quarter was 2.74, with the Price to Cash per share for the same quarter was set at 9.62. Price to Free Cash Flow for NUE in the course of the last twelve months was 46.76 with Quick ratio for the last quarter at 2.00.
NUE Stock Performance Analysis:
Nucor Corporation [NUE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.27. With this latest performance, NUE shares gained by 8.43% in over the last four-week period, additionally plugging by 113.46% over the last 6 months – not to mention a rise of 143.61% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NUE stock in for the last two-week period is set at 65.48, with the RSI for the last a single of trading hit 74.58, and the three-weeks RSI is set at 60.96 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 99.09, while it was recorded at 100.60 for the last single week of trading, and 72.40 for the last 200 days.
Insight into Nucor Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Nucor Corporation [NUE] shares currently have an operating margin of +8.19 and a Gross Margin at +11.16. Nucor Corporation’s Net Margin is presently recorded at +3.56.
Return on Total Capital for NUE is now 10.33, given the latest momentum, and Return on Invested Capital for the company is 4.65. Return on Equity for this stock inclined to 6.78, with Return on Assets sitting at 3.73. When it comes to the capital structure of this company, Nucor Corporation [NUE] has a Total Debt to Total Equity ratio set at 50.39. Additionally, NUE Total Debt to Total Capital is recorded at 33.51, with Total Debt to Total Assets ending up at 27.01. Long-Term Debt to Equity for the company is recorded at 49.57, with the Long-Term Debt to Total Capital now at 32.96.
Reflecting on the efficiency of the workforce at the company, Nucor Corporation [NUE] managed to generate an average of $27,163 per employee. Receivables Turnover for the company is 7.81 with a Total Asset Turnover recorded at a value of 1.05.Nucor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 3.50.
NUE Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NUE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nucor Corporation go to 27.42%.
Nucor Corporation [NUE] Insider Position Details
There are presently around $24,417 million, or 80.60% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 36,674,582, which is approximately 4.248% of the company’s market cap and around 0.50% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 28,209,300 shares of the stock with an approximate value of $2.93 billion in NUE stocks shares; and BLACKROCK INC., currently with $2.25 billion in NUE stock with ownership of nearly 2.999% of the company’s market capitalization.
Positions in Nucor Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 441 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 20,946,149 shares. Additionally, 385 investors decreased positions by around 15,644,897 shares, while 127 investors held positions by with 198,147,429 shares. The mentioned changes placed institutional holdings at 234,738,475 shares, according to the latest SEC report filing. NUE stock had 160 new institutional investments in for a total of 3,390,176 shares, while 71 institutional investors sold positions of 1,308,342 shares during the same period.