BMO Capital Markets Analysts Give Nucor Corporation (NUE) a $62.00 Price Target
BMO Capital Markets set a $62.00 price target on Nucor Corporation (NYSE:NUE) in a research report sent to investors on Friday. The brokerage currently has a hold rating on the basic materials company’s stock.
Other equities analysts also recently issued research reports about the company. Credit Suisse Group dropped their price objective on Nucor Corporation from $68.00 to $63.00 and set a buy rating on the stock in a research note on Thursday, September 28th. Bank of America Corporation reiterated a buy rating and issued a $73.00 price objective on shares of Nucor Corporation in a research note on Wednesday, September 6th. Jefferies Group LLC set a $68.00 price objective on Nucor Corporation and gave the company a buy rating in a research note on Monday, August 21st. Longbow Research reiterated a buy rating and issued a $66.00 price objective on shares of Nucor Corporation in a research note on Thursday, July 27th. Finally, Citigroup Inc. upgraded Nucor Corporation from a neutral rating to a buy rating and upped their price objective for the company from $53.60 to $65.00 in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $67.32.
Nucor Corporation (NYSE:NUE) opened at $54.80 on Friday. The stock has a market capitalization of $17,421.84, a P/E ratio of 16.12, a PEG ratio of 1.23 and a beta of 1.59. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. Nucor Corporation has a twelve month low of $51.67 and a twelve month high of $68.00.
Nucor Corporation (NYSE:NUE) last posted its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. Nucor Corporation’s revenue for the quarter was up 20.5% on a year-over-year basis. analysts anticipate that Nucor Corporation will post 3.7 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Friday, September 29th were given a $0.3775 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.76%. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.90%.
In related news, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the sale, the director now owns 33,573 shares in the company, valued at $1,851,886.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total value of $1,018,759.02. Following the completion of the sale, the insider now owns 206,406 shares in the company, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Insiders sold 44,217 shares of company stock worth $2,608,231 in the last quarter. 0.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Jennison Associates LLC raised its position in shares of Nucor Corporation by 1.4% in the second quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock worth $413,000 after buying an additional 99 shares in the last quarter. CWA Asset Management Group LLC raised its position in shares of Nucor Corporation by 7.1% in the second quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock worth $2,083,000 after buying an additional 2,380 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Nucor Corporation by 8.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock worth $2,676,000 after buying an additional 3,792 shares in the last quarter. Swiss National Bank raised its position in shares of Nucor Corporation by 3.1% in the second quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock worth $67,335,000 after buying an additional 35,100 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Nucor Corporation in the second quarter worth $3,598,000. Institutional investors own 74.92% of the company’s stock.
Nucor Corporation Company Profile
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).
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