For Nucor Corporation [NUE], Analyst sees a drop to $125. What next?


Nucor Corporation [NYSE: NUE] surged by $10.77 during the normal trading session on Thursday and reaching a high of $128.57 during the day while it closed the day at $128.52. The company report on July 21, 2022 that Nucor Reports Record Quarterly Earnings for the Second Quarter of 2022.

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Nucor Corporation (NYSE: NUE) today announced record quarterly consolidated net earnings of $2.56 billion, or $9.67 per diluted share, for the second quarter of 2022. By comparison, Nucor reported consolidated net earnings of $2.10 billion, or $7.67 per diluted share, for the first quarter of 2022 and $1.51 billion, or $5.04 per diluted share, for the second quarter of 2021.

In the first six months of 2022, Nucor reported consolidated net earnings of $4.66 billion, or $17.30 per diluted share, compared with consolidated net earnings of $2.45 billion, or $8.13 per diluted share, in the first six months of 2021.

Nucor Corporation stock has also gained 18.59% of its value over the past 7 days. However, NUE stock has declined by -24.06% in the 3 months of the year. Over the past six months meanwhile, it has gained 23.28% and gained 12.59% year-on date.

The market cap for NUE stock reached $33.59 billion, with 271.56 million shares outstanding and 264.65 million shares in the current float. Compared to the average trading volume of 2.91M shares, NUE reached a trading volume of 3414846 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $128.72 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 2.90. 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 14, 2022. The new note on the price target was released on January 11, 2022, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another raise to $104, while Wolfe Research analysts kept a Peer Perform rating on NUE stock. On November 09, 2021, analysts increased their price target for NUE shares from 105 to 120.

The Average True Range (ATR) for Nucor Corporation is set at 5.14, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 15.96.

NUE stock trade performance evaluation

Nucor Corporation [NUE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.59. With this latest performance, NUE shares gained by 14.48% in over the last four-week period, additionally plugging by 23.28% over the last 6 months – not to mention a rise of 38.34% 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 68.29, with the RSI for the last a single of trading hit 80.35, and the three-weeks RSI is set at 60.19 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 118.26, while it was recorded at 117.66 for the last single week of trading, and 121.80 for the last 200 days.

Nucor Corporation [NUE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Nucor Corporation [NUE] shares currently have an operating margin of +25.62 and a Gross Margin at +30.30. Nucor Corporation’s Net Margin is presently recorded at +18.63.

Return on Equity for this stock inclined to 54.79, with Return on Assets sitting at 29.58.

Nucor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.90.

Earnings per share (EPS) analysis for Nucor Corporation [NUE] stock

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 40.37%.

Nucor Corporation [NUE]: Insider Ownership positions

There are presently around $25,714 million, or 82.20% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 35,272,561, which is approximately -1.597% of the company’s market cap and around 0.60% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 27,241,300 shares of the stock with an approximate value of $3.21 billion in NUE stocks shares; and BLACKROCK INC., currently with $2.75 billion in NUE stock with ownership of nearly 3.997% 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 477 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 16,249,145 shares. Additionally, 544 investors decreased positions by around 14,833,032 shares, while 168 investors held positions by with 187,299,500 shares. The mentioned changes placed institutional holdings at 218,381,677 shares, according to the latest SEC report filing. NUE stock had 135 new institutional investments in for a total of 1,453,483 shares, while 108 institutional investors sold positions of 1,367,475 shares during the same period.