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How Are Analysts Rating Steel Stocks amid Heightened Volatility?

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Part 6
How Are Analysts Rating Steel Stocks amid Heightened Volatility? PART 6 OF 11

What Do Analysts Think about Nucor This Month?

Analysts

Nucor (NUE) released its 1Q17 earnings on April 20. It reported EBITDA (earnings before interest, tax, depreciation, and amortization) of $773 million in 1Q17. The company posted adjusted EBITDA of $425 million in 4Q16 and $347 million in 1Q16. Nucor’s EPS (earnings per share) also rose steeply during the quarter. The company generated EPS of $1.1 in 1Q17. The company posted EPS of $0.50 in 4Q16 and $0.27 in 1Q16. Though Nucor’s 1Q17 EPS fell slightly short of estimates, it managed to beat its revenue estimates by a decent margin.

In this article, we’ll see how analysts are rating Nucor after its 1Q17 earnings.

What Do Analysts Think about Nucor This Month?

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Recommendations

According to consensus estimates compiled by Thomson Reuters, Nucor has a mean one-year price target of $69.10, which represents 18.7% upside over its closing price on May 10, 2017. In contrast, Nucor carried a one-year price target of $68.30 on April 19, one day before its earnings release.

Of the 16 analysts surveyed by Thomson Reuters, ten recommended Nucor stock as a “buy” or some equivalent, while the remaining six analysts recommended a “hold” on the stock. Looking at other steel stocks (XLB), U.S. Steel (X) and AK Steel (AKS) have received “buy” recommendations from 27% and 23% of analysts, respectively.

While Nucor and Steel Dynamics (STLD) saw upwards price action after their 1Q17 earnings release, U.S. Steel and AK Steel witnessed selling pressure after their 1Q17 earnings release. In U.S. Steel’s case, the stock shed more than a quarter of its market capitalization after its 1Q17 earnings release.

In the next article, we’ll see what makes analysts bullish on Nucor.

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