These Analysts Revise Their Forecasts On Nucor Following Q4 Results

Nucor Corp NUE posted better-than-expected fourth-quarter financial results, after the closing bell on Monday.

Nucor reported fourth-quarter revenue of $7.08 billion, beating analyst estimates of $6.76 billion, according to Benzinga Pro. The steelmaker reported fourth-quarter earnings of $1.22 per share, beating analyst estimates of 65 cents per share.

"While steel demand softened throughout 2024, market conditions are starting to improve and should gain momentum as we work our way into 2025. The U.S. economy is still on the front end of several steel-intensive megatrends and as America's largest and most diversified steel producer, Nucor is well positioned to supply those needs," said Leon Topalian, chair, president and CEO of Nucor.

Nucor expects 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 decrease.

Nucor shares gained 3.8% to close at $126.55 on Tuesday.

These analysts made changes to their price targets on Nucor following earnings announcement.

Jefferies analyst Christopher LeFemina maintained Nucor with a Hold and raised the price target from $125 to $135.
JP Morgan analyst Bill Peterson maintained Nucor with an Overweight and lowered the price target from $152 to $150.

Considering buying NUE stock? Here’s what analysts think: