On July 23, Nucor rose 3.08% in regular trading, trading at $242.19/share, with turnover of $21.21 million.
On the news front, Nucor is set to report Q2 earnings on July 27. The company previously guided Q2 adjusted EPS of $4.50 to $4.60, significantly exceeding the analyst consensus estimate of $4.21. Multiple investment banks recently raised their price targets, including Barclays to $272, BNP Paribas to $274, and Goldman Sachs to $275, all maintaining overweight or buy ratings. The mean analyst price target currently stands at approximately $269.53.
The broader steel sector showed notable strength, with Cleveland-Cliffs surging 17.46%, Reliance Steel rising 5.16%, and Steel Dynamics gaining 2.35%, reflecting strong sector-wide momentum. Nucor's Q1 results had already beaten estimates with EPS of $3.23 versus the $2.82 consensus, and the company expects all three operating segments to deliver improved Q2 results driven by higher realized selling prices.
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