
Nucor (NUE) Stock Forecast & Price Target
Nucor (NUE) Analyst Ratings
Bulls say
Nucor Corporation is poised for a robust financial performance, particularly in the upstream raw materials segment, with expected sequential increases in profitability from its direct reduced iron (DRI) facilities in the second quarter of 2024. The consensus estimate for third-quarter 2024 EBITDA remains strong at $1.33 billion, highlighting the overall positive outlook for the company's earnings potential. While there may be some sequential declines anticipated due to seasonal factors and price softness in the sheet market, lower scrap costs are likely to provide a mitigating effect on profitability.
Bears say
Nucor Corp is facing a downturn in profitability, with expectations for 3Q'24 EPS significantly lower than consensus estimates and a pronounced decline in EBITDA compared to previous quarters. The company has indicated that both the steel mills and downstream steel products segments are expected to experience decreased profitability due to lower average selling prices and volumes. Furthermore, the outlook reveals concerns over persistent pricing pressures, leading to a revision of near-term earnings estimates downward and an anticipated EBITDA of approximately $0.8 billion for the upcoming quarter.
This aggregate rating is based on analysts' research of Nucor and is not a guaranteed prediction by Public.com or investment advice.
Nucor (NUE) Analyst Forecast & Price Prediction
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