Seaport Research Keeps $185 Target on Nucor (NUE), Flags Improving Profitability

Nucor Corporation (NYSE:NUE) is included among the Dividend Kings and Aristocrats List: 32 Biggest Stocks.

Seaport Research Keeps $185 Target on Nucor (NUE), Flags Improving Profitability

On March 20, Seaport Research reiterated its Buy rating on Nucor Corporation (NYSE:NUE). It maintained a $185 price target after the company’s Q1 pre-announcement. The analyst said the guidance is broadly in line with management’s earlier comments. Profitability is expected to improve across all three segments on a sequential basis, with Steel Mills contributing the largest gain.

A day earlier, on March 19, Nucor issued guidance for the first quarter ending April 4, 2026. The company expects earnings to come in between $2.70 and $2.80 per diluted share. For comparison, Nucor reported fourth-quarter 2025 net earnings of $1.64 and adjusted earnings of $1.73 per diluted share. In the same quarter last year, net earnings were $0.67 and adjusted earnings were $0.77 per diluted share.

Earnings in the first quarter of 2026 are expected to increase across all three operating segments compared with the fourth quarter. Steel Mills is expected to see the largest improvement, driven by higher average selling prices and stronger volumes across product categories. The steel products segment is also expected to perform better, supported by increased volumes and stable realized pricing. The raw materials segment is projected to see a slight increase in earnings during the quarter.

During the first quarter of 2026, Nucor repurchased about 0.7 million shares at an average price of $175.19 per share. This brings total capital returned to shareholders to around $250 million so far this year through dividends and buybacks.

Nucor Corporation (NYSE:NUE) manufactures steel and steel products, with operations in the United States, Canada, and Mexico. The company also produces and sources ferrous and non-ferrous materials, mainly for use in its steelmaking business.

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