Nucor (NUE) Stock Forecast & Price Target

$154.00 +0.56 (+0.36%)

(As of 04:45 PM ET)

Nucor - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 8 Analyst Ratings

Sell
0

Hold
2

Buy
6

Based on 8 Wall Street analysts who have issued ratings for Nucor in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 8 analysts, 2 have given a hold rating, 5 have given a buy rating, and 1 has given a strong buy rating for NUE.

Consensus Price Target

$190.57
23.75% Upside

According to the 8 analysts' twelve-month price targets for Nucor, the average price target is $190.57. The highest price target for NUE is $240.00, while the lowest price target for NUE is $160.00. The average price target represents a forecasted upside of 23.75% from the current price of $154.00.

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NUE Analyst Ratings Over Time

Type	Current Forecast 11/27/23 to 11/26/24	1 Month Ago 10/28/23 to 10/27/24	3 Months Ago 8/29/23 to 8/28/24	1 Year Ago 11/27/22 to 11/27/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	5 Buy rating(s)	5 Buy rating(s)	4 Buy rating(s)	3 Buy rating(s)
Hold	2 Hold rating(s)	2 Hold rating(s)	3 Hold rating(s)	7 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$190.57	$190.57	$194.43	$164.56
Forecasted Upside	23.75% Upside	34.71% Upside	31.34% Upside	2.04% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

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NUE Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

NUE Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Nucor Stock vs. The Competition

Type	Nucor	Basic Materials Companies	S&P 500
Consensus Rating Score	2.88	2.75	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	24.20% Upside	126.88% Upside	6.38% Upside
News Sentiment Rating	Positive News See Recent NUE News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/23/2024	JPMorgan Chase & Co. 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$170.00 ➝ $168.00	+18.04%
10/23/2024	Morgan Stanley 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$170.00 ➝ $166.00	+14.09%
9/18/2024	BMO Capital Markets 4 of 5 stars		Lower Target	Market Perform ➝ Market Perform	$175.00 ➝ $160.00	+12.53%
8/26/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Eade Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
6/26/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$210.00 ➝ $200.00	+30.65%
5/20/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$190.00	+10.39%
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3/13/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$180.00 ➝ $240.00	+31.23%
1/16/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$210.00	+24.34%
7/11/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$156.00 ➝ $167.00	+1.73%
7/5/2023	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Outperform	$191.00	+15.33%
6/1/2023	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underperform ➝ Peer Perform
3/10/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$144.00 ➝ $161.00	+2.49%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 05:12 PM ET.

Should I Buy Nucor Stock? NUE Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, November 26, 2024. Please send any questions or comments about these Nucor pros and cons to contact@marketbeat.com.

Nucor
Bull Case

Here are some ways that investors could benefit from investing in Nucor Co.:

Nucor Co. recently reported earnings per share (EPS) of $1.49, exceeding the consensus estimate of $1.40, indicating strong financial performance and effective management.
The current stock price is $147.08, which reflects a stable trading environment and potential for growth, especially considering the company's market capitalization of $34.54 billion.
The company has a solid return on equity (ROE) of 12.06%, suggesting efficient use of shareholders' equity to generate profits.
Nucor Co. has a low debt-to-equity ratio of 0.26, indicating a conservative approach to leveraging, which can reduce financial risk and enhance stability during economic downturns.
The recent quarterly dividend of $0.54 per share, with an annualized yield of 1.47%, provides a steady income stream for investors, reflecting the company's commitment to returning value to shareholders.

Nucor
Bear Case

Investors should be bearish about investing in Nucor Co. for these reasons:

The company's revenue decreased by 15.2% year-over-year, which may indicate challenges in maintaining sales growth in a competitive market.
Insider selling activity has been notable, with corporate insiders selling a total of 29,680 shares worth $4,773,724 over the last 90 days, which could signal a lack of confidence in the company's future performance.
The stock has a beta of 1.55, suggesting higher volatility compared to the market, which may pose risks for more conservative investors.
Nucor Co. has a 12-month low of $133.42, indicating potential price fluctuations that could affect investor sentiment and confidence.
Institutional investors own 76.48% of the company's stock, which may lead to less control for individual investors and potential volatility if large holders decide to sell.

NUE Forecast - Frequently Asked Questions

: According to the research reports of 8 Wall Street equities research analysts, the average twelve-month stock price forecast for Nucor is $190.57, with a high forecast of $240.00 and a low forecast of $160.00.
: 8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Nucor in the last twelve months. There are currently 2 hold ratings, 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" NUE shares.
: According to analysts, Nucor's stock has a predicted upside of 23.75% based on their 12-month stock forecasts.
: Over the previous 90 days, Nucor's stock had 1 upgrade by analysts.
: Nucor has been rated by research analysts at BMO Capital Markets, JPMorgan Chase & Co., and Morgan Stanley in the past 90 days.
: Analysts like Nucor more than other "basic materials" companies. The consensus rating score for Nucor is 2.88 while the average consensus rating score for "basic materials" companies is 2.76. Learn more on how NUE compares to other companies.

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This page (NYSE:NUE) was last updated on 11/26/2024 by MarketBeat.com Staff

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Nucor (NUE) Stock Forecast & Price Target