Nucor Corp (NYSE:NUE) reported upbeat financial results for the first quarter on Monday after the close.

Nucor reported first-quarter revenue of $9.50 billion, beating analyst estimates of $8.88 billion, according to Benzinga Pro. The company reported earnings of $3.23 per share for the quarter, beating estimates of $2.80 per share.

"All three of our operating segments reported sequential earnings growth, driven by strong demand across key end markets, growing contributions from recent capital investments, and federal trade policies that continue to reduce the flood of unfairly traded imports into the U.S. We enter the second quarter with real momentum," said Leon Topalian, chair and CEO of Nucor.

Nucor expects higher consolidated earnings in the second quarter, with improved earnings across all three operating segments.

Nucor shares rose 0.4% to trade at $215.95 on Tuesday.

These analysts made changes to their price targets on Nucor following earnings announcement.

  • BMO Capital analyst Katja Jancic maintained Nucor with an Outperform rating and raised the price target from $196 to $235.
  • UBS analyst Andrew Jones downgraded the stock from Buy to Neutral and raised the price target from $190 to $224.

Considering buying NUE stock? Here’s what analysts think:

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