Citigroup Inc. Increases Nucor Corporation (NUE) Price Target to $66.00

Nucor Corporation (NYSE:NUE) had its target price lifted by equities research analysts at Citigroup Inc. from $65.00 to $66.00 in a report released on Friday. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup Inc.’s price objective points to a potential upside of 12.59% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Berenberg Bank reiterated a “buy” rating and issued a $77.50 price target on shares of Nucor Corporation in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price target on shares of Nucor Corporation in a report on Wednesday, July 19th. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Longbow Research reiterated a “buy” rating and issued a $66.00 price target on shares of Nucor Corporation in a report on Thursday, July 27th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $73.00 price target on shares of Nucor Corporation in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $67.19.

Shares of Nucor Corporation (NUE) opened at 58.62 on Friday. The firm has a 50-day moving average price of $55.51 and a 200-day moving average price of $57.50. Nucor Corporation has a 12 month low of $46.52 and a 12 month high of $68.00. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 16.46 and a beta of 1.54.

Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. Nucor Corporation’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. Equities analysts expect that Nucor Corporation will post $3.79 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://ledgergazette.com/2017/10/20/citigroup-inc-increases-nucor-corporation-nue-price-target-to-66-00.html.

In other news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total transaction of $156,431.42. Following the completion of the sale, the insider now directly owns 62,434 shares of the company’s stock, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Insiders sold a total of 22,604 shares of company stock valued at $1,351,495 in the last three months. Insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NUE. Teachers Advisors LLC boosted its holdings in shares of Nucor Corporation by 5.4% in the 1st quarter. Teachers Advisors LLC now owns 818,982 shares of the basic materials company’s stock valued at $48,910,000 after buying an additional 41,957 shares during the period. Legal & General Group Plc boosted its holdings in shares of Nucor Corporation by 2.5% in the 1st quarter. Legal & General Group Plc now owns 1,590,410 shares of the basic materials company’s stock valued at $94,975,000 after buying an additional 38,454 shares during the period. Rothschild Asset Management Inc. boosted its holdings in shares of Nucor Corporation by 52.8% in the 1st quarter. Rothschild Asset Management Inc. now owns 556,486 shares of the basic materials company’s stock valued at $33,234,000 after buying an additional 192,267 shares during the period. Simmons Bank boosted its holdings in shares of Nucor Corporation by 0.4% in the 1st quarter. Simmons Bank now owns 21,516 shares of the basic materials company’s stock valued at $1,285,000 after buying an additional 96 shares during the period. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of Nucor Corporation by 23.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 7,463 shares of the basic materials company’s stock valued at $445,000 after buying an additional 1,435 shares during the period. 74.83% of the stock is owned by

Other equities analysts have also issued research reports about the stock. Berenberg Bank reiterated a “buy” rating and issued a $77.50 price target on shares of Nucor Corporation in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price target on shares of Nucor Corporation in a report on Wednesday, July 19th. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Longbow Research reiterated a “buy” rating and issued a $66.00 price target on shares of Nucor Corporation in a report on Thursday, July 27th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $73.00 price target on shares of Nucor Corporation in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $67.19.

Shares of Nucor Corporation (NUE) opened at 58.62 on Friday. The firm has a 50-day moving average price of $55.51 and a 200-day moving average price of $57.50. Nucor Corporation has a 12 month low of $46.52 and a 12 month high of $68.00. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 16.46 and a beta of 1.54.

Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. Nucor Corporation’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. Equities analysts expect that Nucor Corporation will post $3.79 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://ledgergazette.com/2017/10/20/citigroup-inc-increases-nucor-corporation-nue-price-target-to-66-00.html.

In other news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total transaction of $156,431.42. Following the completion of the sale, the insider now directly owns 62,434 shares of the company’s stock, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Insiders sold a total of 22,604 shares of company stock valued at $1,351,495 in the last three months. Insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NUE. Teachers Advisors LLC boosted its holdings in shares of Nucor Corporation by 5.4% in the 1st quarter. Teachers Advisors LLC now owns 818,982 shares of the basic materials company’s stock valued at $48,910,000 after buying an additional 41,957 shares during the period. Legal & General Group Plc boosted its holdings in shares of Nucor Corporation by 2.5% in the 1st quarter. Legal & General Group Plc now owns 1,590,410 shares of the basic materials company’s stock valued at $94,975,000 after buying an additional 38,454 shares during the period. Rothschild Asset Management Inc. boosted its holdings in shares of Nucor Corporation by 52.8% in the 1st quarter. Rothschild Asset Management Inc. now owns 556,486 shares of the basic materials company’s stock valued at $33,234,000 after buying an additional 192,267 shares during the period. Simmons Bank boosted its holdings in shares of Nucor Corporation by 0.4% in the 1st quarter. Simmons Bank now owns 21,516 shares of the basic materials company’s stock valued at $1,285,000 after buying an additional 96 shares during the period. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of Nucor Corporation by 23.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 7,463 shares of the basic materials company’s stock valued at $445,000 after buying an additional 1,435 shares during the period. 74.83% of the stock is owned by institutional investors.

About Nucor Corporation

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Analyst Recommendations for Nucor Corporation (NYSE:NUE)

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