Nucor Corporation – Consensus Indicates Potential -17.2% Downside

Broker Ratings

Nucor Corporation with ticker code (NUE) now have 11 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The range between the high target price and low target price is between 117 and 39 with a mean TP of 87. Now with the previous closing price of 105.03 this now indicates there is a potential downside of -17.2%. The 50 day moving average now sits at 92.98 and the 200 day MA is 68.54. The market capitalisation for the company is $32,040m. Find out more information at: http://www.nucor.com

Nucor Corporation manufactures and sells steel and steel products. It operates through three segments: Steel Mills, Steel Products, and Raw Materials. The 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; 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. The Steel Products segment offers hollow structural section steel tubing products, electrical conduits, steel joists and joist girders, steel decks, fabricated concrete reinforcing steel products, cold finished steel products, steel fasteners, metal building systems, 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 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. The company offers its products through its in-house sales forces; and internal distribution and trading companies. The company was incorporated in 1958 and is headquartered in Charlotte, North Carolina.

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