Nucor Co. (NUE) Receives $70.77 Consensus PT from Analysts

Shares of Nucor Co. (NYSE:NUE) have earned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $70.77.

Several brokerages recently weighed in on NUE. Bank of America set a $75.00 price objective on shares of Nucor and gave the company a “buy” rating in a report on Monday, January 8th. Jefferies Group restated a “buy” rating and issued a $77.00 price objective on shares of Nucor in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a report on Monday, January 8th. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Credit Suisse Group increased their price objective on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st.

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Shares of NUE stock traded up $0.59 during trading hours on Wednesday, reaching $61.28. 164,142 shares of the company were exchanged, compared to its average volume of 2,908,764. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The firm has a market capitalization of $19,295.58, a price-to-earnings ratio of 17.47, a PEG ratio of 0.95 and a beta of 1.53. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Nucor (NYSE:NUE) last announced its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the business earned $0.50 earnings per share. Nucor’s quarterly revenue was up 28.7% on a year-over-year basis. equities research analysts forecast that Nucor will post 5.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, March 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s payout ratio is presently 43.30%.

In other Nucor news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $65.11, for a total value of $520,880.00. Following the completion of the sale, the executive vice president now owns 78,381 shares of the company’s stock, valued at $5,103,386.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 14,313 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total transaction of $917,749.56. Following the completion of the sale, the chairman now directly owns 333,775 shares of the company’s stock, valued at approximately $21,401,653. The disclosure for this sale can be found here. Insiders sold 64,350 shares of company stock valued at $4,312,607 in the last ninety days. Insiders own 0.80% of the company’s stock.

Large investors have recently modified their holdings of the business. Independence Bank of Kentucky bought a new stake in shares of Nucor during the fourth quarter worth $100,000. Barrett Asset Management LLC bought a new position in Nucor in the fourth quarter valued at $101,000. Cerebellum GP LLC bought a new position in Nucor in the fourth quarter valued at $131,000. Financial Gravity Companies Inc. bought a new position in Nucor in the fourth quarter valued at $140,000. Finally, Woodard & Co. Asset Management Group Inc. ADV bought a new position in Nucor in the fourth quarter valued at $147,000. 80.08% of the stock is owned by hedge funds and other institutional investors.

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About Nucor

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 (NYSE:NUE)

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