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Nucor Reports Results for the Third Quarter of 2024
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Nucor Invites You to Join Its Third Quarter of 2024 Conference Call on the Web
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Nucor Announces Guidance for the Third Quarter of 2024 Earnings
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Nucor Announces 206th Consecutive Cash Dividend
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Should you buy NUE stock before earnings?
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History Shows NUE could rally into earnings
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NUE Bullish Call Spread at $2.75 Appears to be a Good Buy
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Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.
Nucor trades on the NYSE stock market under the symbol NUE.
As of November 8, 2024, NUE stock price declined to $159.01 with 675,049 million shares trading.
NUE has a beta of 0.87, meaning it tends to be less sensitive to market movements. NUE has a correlation of 0.15 to the broad based SPY ETF.
NUE has a market cap of $38.16 billion. This is considered a Large Cap stock.
Last quarter Nucor reported $7 billion in Revenue and $1.49 earnings per share. This beat revenue expectation by $164 million and exceeded earnings estimates by $.02.
In the last 3 years, NUE traded as high as $203.00 and as low as $88.50.
The top ETF exchange traded funds that NUE belongs to (by Net Assets): VTI, VOO, VO, COWZ, SPY.
NUE has underperformed the market in the last year with a return of +6.4%, while the SPY ETF gained +38.4%. In the last 3 month period, NUE fell short of the market, returning +9.9%, while SPY returned +15.6%. However, in the most recent 2 weeks NUE has outperformed the stock market by returning +12.5%, while SPY returned +3.2%.
NUE support price is $157.70 and resistance is $164.64 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NUE shares will trade within this expected range on the day.