Nomura Securities Maintains a 'Buy' on Nucor (NUE); Valuation Looks Attractive
Tweet Send to a FriendGet Alerts NUE Hot Sheet
Price: $46.95 +1.73%
Rating Summary:
9 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 24
Rating Summary:
9 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 24
Trade NUE Now!
Nomura Securities maintains a 'Buy' on Nucor (NYSE: NUE) price target of $48.00.
Analyst, Curt Woodworth, said, "Seasonally weaker flat rolled shipments results in lower margin mix shift. Steel mill shipments declined 4 QoQ due to high import inventory and seasonally lower manufacturing demand, as the industry utilization rate declined from 81% to 76%. While downstream fabricated products turned in its first profit since 2008 as shipments increased 17% QoQ, we believe the net impact of the mix shift may have resulted in a drag on overall margins. We have reduced our 2012E EPS from $2.20 to $2.15 to account for Q2 miss."
For an analyst ratings summary and ratings history on Nucor click here. For more ratings news on Nucor click here.
Shares of Nucor closed at $38.23 yesterday, with a 52 week range of $29.82-$45.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Curt Woodworth, said, "Seasonally weaker flat rolled shipments results in lower margin mix shift. Steel mill shipments declined 4 QoQ due to high import inventory and seasonally lower manufacturing demand, as the industry utilization rate declined from 81% to 76%. While downstream fabricated products turned in its first profit since 2008 as shipments increased 17% QoQ, we believe the net impact of the mix shift may have resulted in a drag on overall margins. We have reduced our 2012E EPS from $2.20 to $2.15 to account for Q2 miss."
For an analyst ratings summary and ratings history on Nucor click here. For more ratings news on Nucor click here.
Shares of Nucor closed at $38.23 yesterday, with a 52 week range of $29.82-$45.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- UBS Raises PT on Tesoro (TSO)
- Goldman Sachs Upgrades Abbott Labs (ABT) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Nomura
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
