A Peek at Nucor's Future Earnings

Nucor (NYSE:NUE) is preparing to release its quarterly earnings on Monday, 2024-10-21. Here's a brief overview of what investors should keep in mind before the announcement.

Analysts expect Nucor to report an earnings per share (EPS) of $1.49.

Nucor bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Past Earnings Performance

The company's EPS beat by $0.33 in the last quarter, leading to a 1.1% drop in the share price on the following day.

Here's a look at Nucor's past performance and the resulting price change:

Quarter	Q2 2024	Q1 2024	Q4 2023	Q3 2023
EPS Estimate	2.35	3.65	2.87	4.25
EPS Actual	2.68	3.46	3.16	4.57
Price Change %	-1.0%	-9.0%	7.000000000000001%	5.0%

Tracking Nucor's Stock Performance

Shares of Nucor were trading at $158.09 as of October 17. Over the last 52-week period, shares are up 12.58%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.

Analysts' Perspectives on Nucor

For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Nucor.

The consensus rating for Nucor is Outperform, based on 5 analyst ratings. With an average one-year price target of $170.0, there's a potential 7.53% upside.

Analyzing Ratings Among Peers

In this comparison, we explore the analyst ratings and average 1-year price targets of Steel Dynamics, Reliance and United States Steel, three prominent industry players, offering insights into their relative performance expectations and market positioning.

• Analysts currently favor an Neutral trajectory for Steel Dynamics, with an average 1-year price target of $136.82, suggesting a potential 13.45% downside.
• The consensus among analysts is an Outperform trajectory for Reliance, with an average 1-year price target of $325.0, indicating a potential 105.58% upside.
• The prevailing sentiment among analysts is an Buy trajectory for United States Steel, with an average 1-year price target of $42.64, implying a potential 73.03% downside.

Summary of Peers Analysis

The peer analysis summary provides a snapshot of key metrics for Steel Dynamics, Reliance and United States Steel, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

Company	Consensus	Revenue Growth	Gross Profit	Return on Equity
Nucor	Outperform	-15.18%	$1.19B	3.10%
Steel Dynamics	Neutral	-6.28%	$774.84M	3.49%
Reliance	Outperform	-6.11%	$1.09B	3.44%
United States Steel	Buy	-17.77%	$489M	1.62%

Key Takeaway:

Nucor ranks at the top for Gross Profit and Return on Equity among its peers. However, it ranks at the bottom for Revenue Growth.

About Nucor

Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.

A Deep Dive into Nucor's Financials

Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.

Negative Revenue Trend: Examining Nucor's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -15.18% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Materials sector.

Net Margin: Nucor's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 7.95%, the company showcases strong profitability and effective cost management.

Return on Equity (ROE): Nucor's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.1%, the company showcases efficient use of equity capital and strong financial health.

Return on Assets (ROA): Nucor's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.89%, the company showcases efficient use of assets and strong financial health.

Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.33.

To track all earnings releases for Nucor visit their earnings calendar on our site.

This article was generated by Benzinga's automated content engine and reviewed by an editor.