18 Apr

Analysts Weigh In on Nucor’s First-Quarter Earnings

WRITTEN BY Mohit Oberoi, CFA

Nucor’s first-quarter earnings

Nucor (NUE) is expected to release its first-quarter earnings results on April 23. The company posted record earnings last year, but its stock fell 18.5%.

In the steel and iron ore space, only Cleveland-Cliffs (CLF) managed to close with gains last year. AK Steel (AKS) fell more than 60% last year as China’s slowdown concerns offset the positive impact of the Section 232 tariffs.

Analysts Weigh In on Nucor’s First-Quarter Earnings

Ready to put your morning scrolling to use? Sign up for Bagels & Stox, our witty take on the top market and investment news straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Analysts’ estimates

Analysts expect Nucor to post revenue of $6.1 billion in the first quarter. It posted revenues of $6.3 billion in the fourth quarter and $5.6 billion in the first quarter of 2018. Though the first quarter is typically seasonally strong for steel companies in terms of shipments, a sharp fall in steel prices in the fourth quarter is expected to dent US steel companies’ first-quarter revenues.

Analysts expect Nucor to post EPS of $1.50 in the first quarter. The company posted EPS of $2.07 in the fourth quarter and $1.10 in the first quarter of 2018. Nucor has provided EPS guidance of $1.45–$1.50 for the first quarter of 2019. The company’s earnings guidance is lower than what analysts were expecting. Steel Dynamics (STLD) has also provided underwhelming guidance for the first quarter.

Ratings and recommendations

Nucor has received “strong buy” ratings from four analysts, while seven analysts have rated it as a “buy” or some equivalent. The remaining four analysts polled by Thomson Reuters have given the stock “hold” ratings. Nucor has received a mean consensus price target of $69.11, which represents a potential upside of 19.2% over its closing price on April 17.

Latest articles

Today, Canopy Growth announced that it acquired the Saskatchewan-based KeyLeaf Life Sciences along with entities relating to the company and its intellectual property. Here's what you need to know about the completed deal.

Yesterday, Tyson Foods (TSN) and fellow meat producers Pilgrim’s Pride (PPC) and Sanderson Farms (SAFM) took a hit to their stocks after news came out about an investigation over price-fixing allegations.

On June 24, RH (RH) was trading at $115.01, implying a rise of 21.2% since its announcement of its first-quarter earnings results on June 12. Despite the surge in its stock price, the company is still trading at a discount of 29.1% to its 52-week high.

26 Jun

Roku Stock Fell Close to 7.0% Yesterday

WRITTEN BY Aditya Raghunath

Roku stock fell 6.8% yesterday to close trading at $93.25 per share. Roku stock has lost over 9.0% in market value in the last two trading days. Prior to this pullback, Roku stock was up a whopping 235.0% year-to-date.

26 Jun

Beyond Meat Stock Up Today on New Product Launch

WRITTEN BY Rajiv Nanjapla

Today, Beyond Meat (BYND) announced that its new product, Beyond Beef, will hit markets across the US later this week.

FedEx (FDX) ended fiscal 2019 on a dismal note and reported a significant YoY decline in fourth-quarter earnings. The delivery giant posted adjusted EPS of $5.01, which was 15.2% lower than the year-ago quarter’s earnings of $5.91. The company cited sluggish revenue growth and increased expenses as the main reason behind the dismal bottom-line performance.