Nucor Corporation [NUE] Revenue clocked in at $41.51 billion, up 10.33% YTD: What’s Next?

Nucor Corporation [NYSE: NUE] gained 0.42% on the last trading session, reaching $145.42 price per share at the time. The company report on March 16, 2023 that Nucor Announces Guidance for the First Quarter of 2023 Earnings.

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Nucor Corporation (NYSE: NUE) today announced guidance for its first quarter ending April 1, 2023. Nucor expects first quarter earnings to be in the range of $3.70 to $3.80 per diluted share. Nucor reported net earnings of $4.89 per diluted share in the fourth quarter of 2022 and $7.67 per diluted share in the first quarter of 2022.

Included in the fourth quarter of 2022 earnings were the following: an approximately $60.4 million net benefit, or $0.24 per diluted share, related to state tax credits; an approximately $88.0 million, or $0.34 per diluted share, net benefit related to a change in a valuation allowance of a state deferred tax asset; and a pre-tax $96.0 million, or $0.29 per diluted share, charge to write-off the remaining carrying value of our leasehold interest in unproved oil and gas properties.

Nucor Corporation represents 255.43 million in outstanding shares, while the company has a total market value of $38.70 billion with the latest information. NUE stock price has been found in the range of $139.03 to $146.01.

If compared to the average trading volume of 1.83M shares, NUE reached a trading volume of 2849245 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $150.92 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.

BofA Securities have made an estimate for Nucor Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2023. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $146 to $125. The new note on the price target was released on June 14, 2022, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another raise to $102, while Wolfe Research analysts kept a Underperform rating on NUE stock.

The Average True Range (ATR) for Nucor Corporation is set at 6.38, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 0.93. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 18.25. Price to Free Cash Flow for NUE in the course of the last twelve months was 5.10 with Quick ratio for the last quarter at 2.10.

Trading performance analysis for NUE stock

Nucor Corporation [NUE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.36. With this latest performance, NUE shares dropped by -15.09% in over the last four-week period, additionally plugging by 20.47% over the last 6 months – not to mention a rise of 7.31% 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 31.18, with the RSI for the last a single of trading hit 23.76, and the three-weeks RSI is set at 37.06 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 161.81, while it was recorded at 152.16 for the last single week of trading, and 137.05 for the last 200 days.

Nucor Corporation [NUE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Nucor Corporation [NUE] shares currently have an operating margin of +25.15 and a Gross Margin at +29.96. Nucor Corporation’s Net Margin is presently recorded at +18.25.

Return on Equity for this stock inclined to 46.72, with Return on Assets sitting at 25.99.

Nucor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 3.40.

Nucor Corporation [NUE]: An earnings per share (EPS) analysis

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 -7.50%.

An analysis of insider ownership at Nucor Corporation [NUE]

There are presently around $29,654 million, or 83.10% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 32,641,370, which is approximately -2.547% of the company’s market cap and around 0.20% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 27,241,300 shares of the stock with an approximate value of $3.96 billion in NUE stocks shares; and BLACKROCK INC., currently with $3.21 billion in NUE stock with ownership of nearly -5.078% of the company’s market capitalization.

509 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 10,898,059 shares. Additionally, 515 investors decreased positions by around 15,985,815 shares, while 190 investors held positions by with 177,033,023 shares. The mentioned changes placed institutional holdings at 203,916,897 shares, according to the latest SEC report filing. NUE stock had 155 new institutional investments in for a total of 2,377,764 shares, while 69 institutional investors sold positions of 1,281,998 shares during the same period.


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