Nucor Corporation (NYSE: NUE) stock lost 0.15% of its trading price on June 16. It opened trading at $151.91, slipped to $149.45 and hit a high of $152.61, and closed trading at $151.41 with a trading volume 3.179 million.
On June 16, the trading volume was more influenced by sellers compared to buyers. In the past week, NUE Stock surged 3.00% and in one month, prices rose by 8.29%.
An analysis of the technical aspects of NUE Stock shows that the ongoing trading moment might be a perfect time to acquire and hold stocks of the company. The analysts’ opinions differ from the technical indicators as they suggest neutrality with no indication of buying or selling.
The annual price target of NUE Stock is $158.55 which might get hit in the upcoming weeks as per its ongoing movement. The overall market capitalization of Nucor Corporation is $38.038 billion.
According to TradingView, 249.464 million shares of Nucor Corporation are free-floating and 1.759 million shares are closely held either by the financial backers or the board of directors of the company.
Nucor Corporation (NUE Stock) Earnings and Revenue
In the first quarter of 2023, Nucor Corporation reported 3.59% less revenue compared to the estimated amount. The estimated amount was $9.03 billion but the reported revenue was only $8.71 billion.
From the reported revenue of Q1 2023, gross profit accounts for $2.00 billion, 0.with $1.61 billion operating income, $1.60 billion pretax income, and $1.13 Billion net income.
It is important to note that since Q2 2022, Nucor Corporation is constantly reporting more revenue compared to the estimated amount. Earnings Per Share reflected an impressive upward movement of 15.03% compared to the estimated figures.
More than 58% of Nucor’s revenue is generated from Steel Mills followed by Raw Materials and other business. 100% of the company revenue is solely generated from North America. The revenue-to-profit conversion consists of 30% gross profit, 28% Ebitda, 25% Ebit and 18% net income.
In the financial year 2022, total revenue of Nucor corporation was $41.51 billion out of which $7.58 billion was net income and profit margin was 18.25%. The company has $14.69 billion in assets and $4.33 billion in liabilities in the short-term and in the long-term, total assets held by the company is $17.79 billion and liabilities is $8.58 billion.
Nucor Corporation’s shares are majorly held by 1276 institutional holders including Blackrock Inc., Vanguard Group Inc., State Street Corp, State Farm Mutual Automobile Insurance Co., Geode Capital Management LLC, Morgan Stanley, Dimensional Fund Advisors LP, Bank of New York Mellon Corp, and Capital Wealth Planning LLC.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/20/nue-stock-rose-8-29-monthly-bullishness-is-luring-investors/