We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nucor (NUE) Gains on Strong Demand, Higher Steel Prices
Read MoreHide Full Article
We issued an updated research report on Nucor Corporation (NUE - Free Report) on May 26.
Nucor, which is among the prominent players in the steel space along with United States Steel Corporation (X - Free Report) , Steel Dynamics, Inc. (STLD - Free Report) and ArcelorMittal (MT - Free Report) , is benefiting from strength in the non-residential construction market and a strong recovery in the automotive market.
Strong customer demand has led to a rebound in the automotive market. The company is also seeing improved conditions in heavy equipment, agriculture and renewable energy markets. Higher demand is supporting its shipments. Nucor should also gain from considerable market opportunities from its strategic investments in its most significant growth projects.
Nucor is also benefiting from a rally in steel prices. Higher average selling prices drove its sales and bottom line in the first quarter. Its average sales price climbed 25% year over year in the quarter.
Nucor, in its first-quarter call, said that it expects second-quarter earnings to be the highest quarterly earnings in its history, exceeding the record-level set in the first quarter. Earnings are expected to be mainly driven by higher pricing and margins in the steel mills segment.
Notably, U.S. steel prices have staged a strong recovery and hit record levels after plunging to pandemic-led multi-year lows in August 2020. The rebound has been driven by rising demand (especially in automotive and construction), supply shortages and higher raw material costs.
The benchmark hot-rolled coil (HRC) prices started to recover in September 2020 on U.S. steel mills’ back-to-back price hike actions, tight supply and surging end-market demand, especially in automotive. Prices are shooting higher since then and surged to levels not seen in more than a decade. As such, higher domestic steel prices should act as a catalyst for Nucor’s steel mills unit.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Nucor (NUE) Gains on Strong Demand, Higher Steel Prices
We issued an updated research report on Nucor Corporation (NUE - Free Report) on May 26.
Nucor, which is among the prominent players in the steel space along with United States Steel Corporation (X - Free Report) , Steel Dynamics, Inc. (STLD - Free Report) and ArcelorMittal (MT - Free Report) , is benefiting from strength in the non-residential construction market and a strong recovery in the automotive market.
Strong customer demand has led to a rebound in the automotive market. The company is also seeing improved conditions in heavy equipment, agriculture and renewable energy markets. Higher demand is supporting its shipments. Nucor should also gain from considerable market opportunities from its strategic investments in its most significant growth projects.
Nucor is also benefiting from a rally in steel prices. Higher average selling prices drove its sales and bottom line in the first quarter. Its average sales price climbed 25% year over year in the quarter.
Nucor, in its first-quarter call, said that it expects second-quarter earnings to be the highest quarterly earnings in its history, exceeding the record-level set in the first quarter. Earnings are expected to be mainly driven by higher pricing and margins in the steel mills segment.
Notably, U.S. steel prices have staged a strong recovery and hit record levels after plunging to pandemic-led multi-year lows in August 2020. The rebound has been driven by rising demand (especially in automotive and construction), supply shortages and higher raw material costs.
The benchmark hot-rolled coil (HRC) prices started to recover in September 2020 on U.S. steel mills’ back-to-back price hike actions, tight supply and surging end-market demand, especially in automotive. Prices are shooting higher since then and surged to levels not seen in more than a decade. As such, higher domestic steel prices should act as a catalyst for Nucor’s steel mills unit.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>