Workflow
These Analysts Revise Their Forecasts On Nucor Following Q4 Results
NUENucor(NUE) Benzinga·2025-01-29 14:29

Core Insights - Nucor Corp reported fourth-quarter revenue of 7.08billion,exceedinganalystestimatesof7.08 billion, exceeding analyst estimates of 6.76 billion, and earnings of 1.22pershare,surpassingexpectationsof65centspershare[1]−TheCEOofNucorindicatedthatwhilesteeldemandsoftenedin2024,marketconditionsareimprovingandexpectedtogainmomentuminto2025,positioningNucorfavorablytomeetsteel−intensivemegatrendsintheU.S.economy[2]−Nucoranticipatesfirst−quarterearningsinthesteelmillsandsteelproductssegmentstobesimilartothefirstquarterof2024,whileearningsintherawmaterialssegmentareexpectedtodecline[3]AnalystOpinions−JefferiesanalystChristopherLeFeminamaintainedaHoldratingonNucorandraisedthepricetargetfrom1.22 per share, surpassing expectations of 65 cents per share [1] - The CEO of Nucor indicated that while steel demand softened in 2024, market conditions are improving and expected to gain momentum into 2025, positioning Nucor favorably to meet steel-intensive megatrends in the U.S. economy [2] - Nucor anticipates first-quarter earnings in the steel mills and steel products segments to be similar to the first quarter of 2024, while earnings in the raw materials segment are expected to decline [3] Analyst Opinions - Jefferies analyst Christopher LeFemina maintained a Hold rating on Nucor and raised the price target from 125 to 135[4]−JPMorgananalystBillPetersonmaintainedanOverweightratingonNucorbutloweredthepricetargetfrom135 [4] - JP Morgan analyst Bill Peterson maintained an Overweight rating on Nucor but lowered the price target from 152 to 150[4]StockPerformance−Followingtheearningsannouncement,Nucorsharesincreasedby3.8150 [4] Stock Performance - Following the earnings announcement, Nucor shares increased by 3.8%, closing at 126.55 [3]