Nucor's 4Q Guidance Points to Record Profits in 2018, but Shares Are Trading Above Our FVE
Nucor issued impressive fourth-quarter guidance as the company closes out a record-setting year. Having updated our valuation model to reflect the fourth-quarter guidance, we expect the company to generate $4.2 billion of EBITDA and GAAP earnings of $7.28 per share. Both would represent all-time highs for the company. Management's guidance points to full-year earnings of $7.25-7.30 per share. However, our $50 per share fair value estimate and no-moat rating are unchanged.Nucor has benefited fro...
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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