Nucor Corporation – Consensus Indicates Potential -10.4% Downside

Broker Ratings

Nucor Corporation with ticker code (NUE) now have 12 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The target price ranges between 180 and 39 and has a mean target at 138.45. With the stocks previous close at 154.53 this now indicates there is a potential downside of -10.4%. The 50 day MA is 147.06 and the 200 day MA is 119.04. The company has a market capitalisation of $37,458m. Company Website: https://www.nucor.com

The potential market cap would be $33,560m based on the market concensus.

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Nucor Corporation manufactures and sells steel and steel products. The company’s Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products. It also engages in the steel trading and rebar distribution businesses. This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico. Its Steel Products segment offers hollow structural section steel tubing products, electrical conduits, steel racking, steel joists and joist girders, steel decks, fabricated concrete reinforcing steel products, cold finished steel products, steel fasteners, metal building systems, insulated metal panels, steel grating and expanded metal products, and wire and wire mesh products primarily for use in nonresidential construction applications. This segment also engages in the piling distribution business. The company’s Raw Materials segment produces direct reduced iron (DRI); brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap metal, as well as engages in the natural gas drilling operations. This segment sells its ferrous scrap to electric arc furnace steel mills and foundries for manufacturing process; and nonferrous scrap metal to aluminum can producers, secondary aluminum smelters, steel mills and other processors, and consumers of various nonferrous metals. It serves agriculture, automotive, construction, energy and transmission, oil and gas, heavy equipment, infrastructure, and transportation industries through its in-house sales force; and internal distribution and trading companies. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina.

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