In the latest trading session, 0.97 million Nucor Corporation (NYSE:NUE) shares changed hands as the company’s beta touched 1.40. With the company’s most recent per share price at $108.53 changing hands around $2.33 or 2.19% at last look, the market valuation stands at $31.28B. NUE’s current price is a discount, trading about -18.69% off its 52-week high of $128.81. The share price had its 52-week low at $44.05, which suggests the last value was 59.41% up since then. When we look at Nucor Corporation’s average trading volume, we note the 10-day average is 2.6 million shares, with the 3-month average coming to 3.19 million.
Analysts gave the Nucor Corporation (NUE) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 8 recommended NUE as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Nucor Corporation’s EPS for the current quarter is expected to be $6.4.
Nucor Corporation (NYSE:NUE) trade information
Instantly NUE is in green as seen in intraday trades today. With action -7.46%, the performance over the past five days has been red. The jump to weekly highs of 116.22 on Tuesday, 09/14/21 added 2.19% to the stock’s daily price. The company’s shares are showing year-to-date upside of 99.66%, with the 5-day performance at -7.46% in the red. However, in the 30-day time frame, Nucor Corporation (NYSE:NUE) is -15.83% down. Looking at the short shares, we see there were 4.23 million shares sold at short interest cover period of 1.51 days.
The consensus price target for the stock as assigned by Wall Street analysts is $119.70, meaning bulls need an upside of 9.33% from its recent market value. According to analyst projections, NUE’s forecast low is $104.00 with $142.00 as the target high. To hit the forecast high, the stock’s price needs a -30.84% plunge from its current level, while the stock would need to tank 4.17% for it to hit the projected low.
Nucor Corporation (NUE) estimates and forecasts
Data shows that the Nucor Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 54.11% over the past 6 months, a 478.74% in annual growth rate that is considerably higher than the industry average of 12.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Nucor Corporation will rise 884.60%, while the growth in revenue is estimated to hit 345.70% for the next quarter. Year-over-year growth is forecast to reach 71.60% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $9.82 billion. 6 analysts are of the opinion that Nucor Corporation’s revenue for the quarter ending Dec 2021 will be $9.03 billion. The company’s revenue for the corresponding quarters a year ago was $4.93 billion and $5.26 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 99.40%. The estimates for the next quarter sales put growth at 71.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 57.10%. The 2021 estimates are for Nucor Corporation earnings to decrease by -42.90%, but the outlook for the next 5-year period is at 29.07% per year.
Nucor Corporation is expected to release its next quarterly earnings report between October 20 and October 25. The 1.53% annual yield figure for the share gives it an annual dividend of 1.62. It is important to note, however, that the 1.53% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 2.79 per year.
Nucor Corporation (NYSE:NUE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.50% of Nucor Corporation shares while 80.19% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.59%. There are 80.19% institutions holding the Nucor Corporation stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 12.26% of the shares, roughly 36.67 million NUE shares worth $2.94 billion.
State Farm Mutual Automobile Insurance Co holds the second largest percentage of outstanding shares, with 9.43% or 28.21 million shares worth $2.26 billion as of Mar 30, 2021.
Among Mutual Funds, the top two as of Jun 29, 2021 were Washington Mutual Investors Fund and Vanguard Total Stock Market Index Fund. With 10.04 million shares estimated at $963.12 million under it, the former controlled 3.36% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.84% of the shares, roughly 8.51 million shares worth around $682.92 million.