Nucor Corp. (NUE) Given Consensus Rating of “Hold” by Brokerages
Nucor Corp. (NYSE:NUE) has earned a consensus recommendation of “Hold” from the twenty-two research firms that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $52.96.
NUE has been the subject of several research reports. Jefferies Group restated a “buy” rating on shares of Nucor Corp. in a research report on Saturday, October 1st. JPMorgan Chase & Co. restated a “buy” rating and set a $59.50 price target on shares of Nucor Corp. in a research report on Friday, July 22nd. Berenberg Bank upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and reduced their price target for the company from $57.50 to $57.00 in a research report on Wednesday, November 2nd. Bank of America Corp. upgraded shares of Nucor Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $57.00 in a research report on Wednesday, November 9th. Finally, BMO Capital Markets restated a “hold” rating on shares of Nucor Corp. in a research report on Thursday, October 20th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Chip Partners Inc. purchased a new position in shares of Nucor Corp. during the second quarter valued at about $102,000. TCI Wealth Advisors Inc. boosted its position in shares of Nucor Corp. by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the company’s stock valued at $102,000 after buying an additional 70 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock valued at $114,000 after buying an additional 100 shares in the last quarter. SevenBridge Financial Group LLC purchased a new position in shares of Nucor Corp. during the second quarter valued at about $114,000. Finally, Tuttle Tactical Management LLC purchased a new position in shares of Nucor Corp. during the second quarter valued at about $116,000. Hedge funds and other institutional investors own 78.57% of the company’s stock.
Nucor Corp. (NYSE:NUE) opened at 60.33 on Friday. The stock has a 50 day moving average of $49.08 and a 200 day moving average of $49.81. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $60.35. The firm has a market capitalization of $19.21 billion, a PE ratio of 37.85 and a beta of 1.38.
Nucor Corp. (NYSE:NUE) last announced its earnings results on Thursday, October 20th. The company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by $0.06. The firm earned $4.29 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Nucor Corp. had a net margin of 3.26% and a return on equity of 9.27%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, equities analysts predict that Nucor Corp. will post $2.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, September 30th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Wednesday, September 28th. Nucor Corp.’s dividend payout ratio (DPR) is presently 93.75%.
About Nucor Corp.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
Receive News & Stock Ratings for Nucor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corp. and related stocks with our FREE daily email newsletter.