Nucor Corporation [NYSE: NUE] traded at a high on 09/16/21, posting a 0.17 gain after which it closed the day’ session at $109.82. The company report on September 16, 2021 that Nucor Expects Record Quarterly Earnings in the Third Quarter of 2021.
Nucor Corporation (NYSE: NUE) announced guidance for its third quarter ending October 2, 2021. Nucor expects third quarter earnings to be in the range of $7.30 to $7.40 per diluted share. Third quarter of 2021 earnings are expected to be the highest quarterly earnings in Nucor history, surpassing the previous record of $5.04 per diluted share set in the second quarter of 2021.
All three operating segments continue to generate robust profitability as overall demand remains strong across most end-use markets. Earnings of the steel mills segment are expected to increase significantly in the third quarter of 2021 as compared to the second quarter of 2021, mainly driven by higher realized selling prices. We also expect the steel products segment to generate significantly increased earnings in the third quarter of 2021 due to margin expansion caused by higher average selling prices. The raw materials segment’s earnings in the third quarter of 2021 are expected to be comparable to the second quarter of 2021, excluding an impairment charge recorded in the second quarter of 2021.
The results of the trading session contributed to over 3263141 shares changing hands. Over the past one week, the price volatility of Nucor Corporation stands at 3.79% while the volatility over the past one month is 3.10%.
The market cap for NUE stock reached $32.35 billion, with 296.82 million shares outstanding and 292.20 million shares in the current float. Compared to the average trading volume of 3.15M shares, NUE reached a trading volume of 3263141 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $108.73 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.
Seaport Global Securities have made an estimate for Nucor Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 24, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Neutral. The new note on the price target was released on June 16, 2021, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another raise from $56 to $80, while BofA Securities kept a Neutral rating on NUE stock.
The Average True Range (ATR) for Nucor Corporation is set at 4.32, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 10.60. Price to Free Cash Flow for NUE in the course of the last twelve months was 25.48 with Quick ratio for the last quarter at 1.80.
How has NUE stock performed recently?
Nucor Corporation [NUE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.44. With this latest performance, NUE shares dropped by -8.15% in over the last four-week period, additionally plugging by 55.99% over the last 6 months – not to mention a rise of 130.91% 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 44.89, with the RSI for the last a single of trading hit 40.51, and the three-weeks RSI is set at 48.33 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 108.44, while it was recorded at 109.42 for the last single week of trading, and 82.99 for the last 200 days.
Nucor Corporation [NUE]: Deeper insight into the 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 1.80 and a Current Ratio set at 3.10.
Earnings analysis for Nucor Corporation [NUE]
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 29.07%.
Insider trade positions for Nucor Corporation [NUE]
There are presently around $25,947 million, or 82.40% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 37,335,594, which is approximately 1.802% 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 $3.1 billion in NUE stocks shares; and BLACKROCK INC., currently with $2.61 billion in NUE stock with ownership of nearly 9.675% 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 474 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 22,460,703 shares. Additionally, 413 investors decreased positions by around 17,193,405 shares, while 126 investors held positions by with 196,614,644 shares. The mentioned changes placed institutional holdings at 236,268,752 shares, according to the latest SEC report filing. NUE stock had 170 new institutional investments in for a total of 3,148,126 shares, while 70 institutional investors sold positions of 1,592,452 shares during the same period.