Nucor Corporation (NUE), based in Charlotte, North Carolina, manufactures and sells steel and steel products. Valued at $32.9 billion by market cap, the company’s products include carbon and alloy steel, steel joints, steel deck, cold-finished steel, steel grinding balls, steel bearing products, and metal building systems. Nucor also brokers ferrous and nonferrous metals, pig iron, HBI, and DRI, supplies ferro-alloys, and processes ferrous and nonferrous scrap.

Shares of this steel titan have underperformed the broader market over the past year. NUE has declined 2.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 13.3%. However, in 2025, NUE’s stock rose 22.7%, surpassing the SPX’s 8.3% rise on a YTD basis. 

Narrowing the focus, NUE’s underperformance is also apparent compared to the VanEck Steel ETF (SLX). The exchange-traded fund has gained about 3.4% over the past year. However, NUE’s returns on a YTD basis outshine the ETF’s 17.6% gains over the same time frame.

On Jul. 28, NUE shares closed down marginally after reporting its Q2 results. Its EPS of $2.60 missed Wall Street expectations of $2.62. The company’s revenue was $8.5 billion, exceeding Wall Street forecasts of $8.4 billion.

For the current fiscal year, ending in December, analysts expect NUE’s EPS to fall 7.3% to $8.25 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing the forecast on another occasion. 

Among the 14 analysts covering NUE stock, the consensus is a “Strong Buy.” That’s based on 10 “Strong Buy” ratings, one “Moderate Buy,” and three “Holds.”

This configuration is more bullish than a month ago, with nine analysts suggesting a “Strong Buy.” 

On Aug. 13,Wells Fargo & Company (WFC) analyst Timna Tanners maintained a “Hold” rating on NUE and set a price target of $145, implying a potential upside of 1.2% from current levels.

The mean price target of $158.17 represents a 10.4% premium to NUE’s current price levels. The Street-high price target of $182 suggests an ambitious upside potential of 27.1%.