Nucor Corporation [NYSE: NUE] stock went on an upward path that rose over 4.83% on Wednesday, amounting to a one-week price increase of more than 6.82%. The company report on December 15, 2021 that Nucor Expects Record Quarterly Earnings in the Fourth Quarter of 2021.
Nucor Corporation (NYSE: NUE) today announced guidance for its fourth quarter ending December 31, 2021. Nucor expects fourth quarter earnings to be in the range of $7.65 to $7.75 per diluted share. Fourth quarter of 2021 earnings are expected to be the highest quarterly earnings in Nucor history, surpassing the previous record of $7.28 per diluted share that was set in the third quarter of 2021.
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Steel mills segment earnings in the fourth quarter of 2021 remain robust and are expected to be comparable to the third quarter of 2021 despite lower volumes caused by year-end seasonality. We expect the steel products segment to generate increased earnings in the fourth quarter of 2021 as demand in nonresidential construction markets remains strong. Raw materials segment earnings are expected to decrease in the fourth quarter of 2021 as compared to the third quarter of 2021 primarily due to margin compression at our direct reduced iron facilities.
Over the last 12 months, NUE stock rose by 115.22%. The one-year Nucor Corporation stock forecast points to a potential downside of -6.63. 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 $34.98 billion, with 290.51 million shares outstanding and 284.38 million shares in the current float. Compared to the average trading volume of 3.20M shares, NUE stock reached a trading volume of 7666905 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 $115.09 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.
Wolfe Research have made an estimate for Nucor Corporation shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on November 17, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price from $105 to $120. The new note on the price target was released on November 09, 2021, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another drop from $123 to $108, while Goldman kept a Neutral rating on NUE stock.
The Average True Range (ATR) for Nucor Corporation is set at 5.02, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 1.11. 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 7.06. Price to Free Cash Flow for NUE in the course of the last twelve months was 16.35 with Quick ratio for the last quarter at 1.30.
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 6.82. With this latest performance, NUE shares gained by 11.32% in over the last four-week period, additionally plugging by 30.97% over the last 6 months – not to mention a rise of 115.22% 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 62.71, with the RSI for the last a single of trading hit 68.24, and the three-weeks RSI is set at 59.81 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 112.76, while it was recorded at 116.17 for the last single week of trading, and 102.54 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 1.30 and a Current Ratio set at 2.50.
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 34.99%.
Nucor Corporation [NUE] Insider Position Details
There are presently around $25,351 million, or 81.60% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 36,798,368, which is approximately -1.439% of the company’s market cap and around 0.30% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 27,241,300 shares of the stock with an approximate value of $3.19 billion in NUE stocks shares; and BLACKROCK INC., currently with $2.77 billion in NUE stock with ownership of nearly -0.234% of the company’s market capitalization.
Positions in Nucor Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 418 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 7,198,809 shares. Additionally, 461 investors decreased positions by around 16,014,660 shares, while 148 investors held positions by with 193,333,446 shares. The mentioned changes placed institutional holdings at 216,546,915 shares, according to the latest SEC report filing. NUE stock had 99 new institutional investments in for a total of 734,514 shares, while 79 institutional investors sold positions of 1,044,293 shares during the same period.