Nucor Analysts Cut Their Forecasts After Q3 Earnings
Portfolio Pulse from Avi Kapoor
Nucor Corp (NYSE:NUE) reported better-than-expected Q3 earnings but expects a decline in Q4 earnings. Analysts have adjusted their price targets downward following the announcement.
October 23, 2024 | 5:52 pm
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Nucor reported Q3 earnings of $1.49 per share, beating estimates, but expects Q4 earnings to decline to $1.05 per share. Analysts have lowered their price targets following the announcement.
Despite beating Q3 earnings expectations, Nucor's forecasted decline in Q4 earnings and subsequent analyst price target reductions suggest a negative short-term impact on the stock price.
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