With a market cap of $26.5 billion, Nucor Corporation (NUE) engages in the manufacture and sale of steel and steel products, with operating facilities in the United States, Canada, and Mexico. Based in Charlotte, North Carolina, the company operates in three segments: Steel Mills, Steel Products, and Raw Materials. 

Shares of NUE have significantly lagged behind the broader market over the past 52 weeks. NUE has dropped 32.7% over this time frame, while the broader S&P 500 Index ($SPX) has gained 11.9%. Moreover, shares of NUE are down 1.5% on a YTD basis, compared to SPX’s 1% rise.

Looking closer, Nucor has also performed weaker than the Materials Select Sector SPDR Fund’s (XLB) 5.6% dip over the past 52 weeks and a 3.5% rise on a YTD basis. 

Nucor’s stock prices rose 1.9% following the release of its strong Q1 2025 results on Apr. 28. Quarterly net sales declined 3.8% year-over-year to $7.8 billion but exceeded the Wall Street expectations of $7.2 billion. The company shipped a total of 6,830,000 tons to outside customers, reflecting a 10% increase year-over-year. Total steel mill shipments also rose 10% compared to the same quarter in 2024. Adjusted EPS came in at $0.77, beating analysts’ estimates of $0.68. 

For the current fiscal year, ending in December 2025, analysts expect NUE’s adjusted EPS to decline 11.5% year-over-year to $7.88. However, the company's earnings surprise history is strong. It beat the consensus estimates in the past four quarters. 

Among the 13 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on eight “Strong Buy” ratings, one “Moderate Buy,” and four “Holds.” 

This configuration is slightly more bullish than three months ago, with seven “Strong Buy” ratings on the stock.

On Apr. 16, JPMorgan analyst Bill Peterson lowered NUE’s price target to $140 while maintaining an “Overweight” rating. 

As of writing, Nucor is trading below the mean price target of $147.91. The Street-high price target of $175 implies a potential upside of 52.2% from the current price levels.