Nucor Issues Soft 4Q Guidance and Announces Republic Conduit Acquisition; Fair Value Raised to $38
We've updated our Nucor valuation model to reflect weaker-than-expected fourth-quarter guidance and the impact of the company's acquisition of Republic Conduit. We've also raised our enterprise value/EBITDA exit multiple to 6.5 times from 6.0 times to more accurately capture our expectations for the company's efficiency in converting EBITDA to free cash flow in a midcycle environment. On the balance, our fair value estimate rises to $38 per share.We continue to view Nucor, along with all other ...
Nucor manufactures steel and steel products. The company's operations include international trading and sales companies that buy and sell steel and steel products. The company's segments are: steel mills, which produces sheet steel, plate steel, structural steel, and bar steel; steel products, which produces hollow structural section steel tubing, electrical conduit, steel joists and joist girders, steel deck, cold finished steel, steel fasteners, metal building systems, and wire and wire mesh; and raw materials, which produces direct reduced iron (DRI), brokers ferrous and nonferrous metals, pig iron, hot briquetted iron and DRI, supplies ferro-alloys, and processes ferrous and nonferrous scrap metal.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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