Nucor Corporation [NUE] moved down -11.31: Why It’s Important

Nucor Corporation [NYSE: NUE] closed the trading session at $120.71 on 09/14/22. The day’s price range saw the stock hit a low of $119.33, while the highest price level was $131.87. The company report on September 14, 2022 that Nucor Announces Guidance for the Third Quarter of 2022 Earnings.


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Nucor Corporation (NYSE: NUE) today announced guidance for its third quarter ending October 1, 2022. Nucor expects third quarter earnings to be in the range of $6.30 to $6.40 per diluted share. Nucor reported net earnings of $9.67 per diluted share in the second quarter of 2022 and $7.28 per diluted share in the third quarter of 2021.

We expect the steel mills segment earnings to be considerably lower in the third quarter of 2022 as compared to the second quarter of 2022, due to metal margin contraction and reduced shipping volumes particularly at our sheet and plate mills. The steel products segment is expected to have another strong quarter in the third quarter of 2022, with earnings roughly in-line with the second quarter of 2022. Raw materials segment earnings are expected to be similar to the second quarter of 2022. We continue to believe that 2022 will be the most profitable year in Nucor’s history.

The stocks have a year to date performance of 5.75 percent and weekly performance of -10.99 percent. The stock has been moved at -10.93 percent over the last six months. The stock has performed -14.92 percent around the most recent 30 days and changed 6.15 percent over the most recent 3-months.

If compared to the average trading volume of 2.05M shares, NUE reached to a volume of 5523863 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 $131.07 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 5.65, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 8.92. Price to Free Cash Flow for NUE in the course of the last twelve months was 4.79 with Quick ratio for the last quarter at 1.40.

NUE stock trade performance evaluation

Nucor Corporation [NUE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.99. With this latest performance, NUE shares dropped by -14.92% in over the last four-week period, additionally sinking by -10.93% over the last 6 months – not to mention a rise of 13.66% 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 35.30, with the RSI for the last a single of trading hit 28.70, and the three-weeks RSI is set at 40.06 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 130.01, while it was recorded at 136.30 for the last single week of trading, and 127.06 for the last 200 days.

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

Nucor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.60.

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 $25,769 million, or 82.80% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 34,026,448, which is approximately -3.533% 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 $3.29 billion in NUE stocks shares; and BLACKROCK INC., currently with $2.88 billion in NUE stock with ownership of nearly 2.15% 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 467 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 14,164,997 shares. Additionally, 585 investors decreased positions by around 20,045,202 shares, while 176 investors held positions by with 179,270,157 shares. The mentioned changes placed institutional holdings at 213,480,356 shares, according to the latest SEC report filing. NUE stock had 124 new institutional investments in for a total of 3,606,337 shares, while 142 institutional investors sold positions of 994,005 shares during the same period.

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