Nucor Stock Slips After Steel Name Cuts Q3 Guidance

Core Viewpoint - Nucor Corp has lowered its third-quarter earnings guidance, leading to a decline in its stock price and a reduction in price target by Wells Fargo [1][3]. Group 1: Earnings Guidance and Stock Performance - Nucor Corp's third-quarter earnings guidance is now projected to be between $2.05 and $2.15 per share, indicating a decrease across all operating segments [1]. - The stock price of Nucor fell by 4.1% to $136.95, dropping below the 60-day moving average and recent support levels [2]. - Despite the recent decline, Nucor's stock is still up 17.7% year to date [2]. Group 2: Analyst Ratings and Price Targets - Out of 14 analysts covering Nucor, 11 have a "buy" or better rating, while 3 have a "hold" rating [3]. - The 12-month consensus price target for Nucor is $157.79, representing a 14.7% premium over current levels [3]. Group 3: Options Market Insights - The Schaeffer's Volatility Index (SVI) for Nucor is at 32%, ranking in the low 6th percentile of its annual range, indicating low volatility expectations from options traders [4].