Nucor Corporation Delivers Best First-Half Profits Since Great Recession: Here's How
Over the past several years, steel demand in the U.S. has been at some of the highest levels in a decade. But at the same time, imported steel -- which the U.S. steel industry has argued was largely illegally subsidized by the countries importing it to the U.S. -- has flooded the market, hurting prices, taking huge market share from domestic producers, and reducing output -- and profits -- from North American steel mills.
Yet even in the face of this major challenge, Nucor Corporation (NYSE: NUE) continued to invest in growth, expanding its capacity and the products it could make. Over the past several quarters, aided by a number of tariffs that have started to force illegally dumped steel out of the market, Nucor's profits have surged. So far this year, as we learned when Nucor reported second-quarter earnings on July 20, the company has had its most profitable six months since 2008, the company's earnings peak before the Great Recession.
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Source: Fool.com
Nucor Corp. Stock
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With a target price of 175 € there is a slightly positive potential of 10.55% for Nucor Corp. compared to the current price of 158.3 €.
