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Analysts’ Views on Nucor before Its 1Q18 Earnings Release

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Nucor’s 1Q18 earnings release

Nucor (NUE) is scheduled to release its 1Q18 earnings on April 19, and U.S. Steel Corporation (X) and AK Steel (AKS) are expected to release their 1Q18 earnings on April 30. In this article, we’ll look at Nucor’s 1Q18 earnings guidance and see how analysts have rated the stock ahead of its 1Q18 earnings release.

The company expects to post EPS (earnings per share) of $1.00–$1.05 in 1Q18. In comparison, Nucor posted EPS of $1.20 in 4Q17 and $1.11 in 1Q17. The sequential earnings fall is mostly due to the tax bill introduced in 4Q17. Nucor’s 1Q18 guidance was better than expected.

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Analysts’ recommendations

Of the analysts covering Nucor on April 6, four recommended “strong buy,” six recommended “buy,” and five recommended “hold” or an equivalent. The stock carries a mean consensus price target of $75.36, which represents a potential upside of 24.2% based on its April 6 closing price. In the last week of March, Deutsche Bank raised Nucor’s price target from $75 to $76 and raised Steel Dynamics’ (STLD) target price by $1.

Outlook

Nucor’s price action has been subdued this year and the stock has fallen 4.1%. While the company has announced several growth initiatives, the stock market has been largely cold to the company’s investment drive. However, if the Trump administration moves ahead with its long-awaited infrastructure plans, Nucor could be among the biggest beneficiaries in the steel space due to its exposure to both long and flat steel products (XME). In the next article, we’ll see analysts’ ratings for AK Steel this earnings season.

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