BMO Capital Markets Analysts Give Nucor Corp. (NUE) a $51.00 Price Target
Other analysts have also recently issued reports about the stock. Jefferies Group reiterated a buy rating and issued a $60.00 target price (up from $56.00) on shares of Nucor Corp. in a research note on Friday, June 10th. JPMorgan Chase & Co. reissued a buy rating and issued a $59.50 price target on shares of Nucor Corp. in a report on Friday, July 22nd. Deutsche Bank AG raised shares of Nucor Corp. from a hold rating to a buy rating and increased their price target for the stock from $52.00 to $60.00 in a report on Wednesday, July 6th. Credit Suisse Group AG increased their price target on shares of Nucor Corp. from $45.00 to $55.00 and gave the stock a neutral rating in a report on Wednesday, June 8th. Finally, Zacks Investment Research lowered shares of Nucor Corp. from a buy rating to a hold rating in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Nucor Corp. presently has a consensus rating of Buy and an average price target of $53.14.
Nucor Corp. (NYSE:NUE) opened at 46.00 on Wednesday. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 31.53 and a beta of 1.48. The stock’s 50 day moving average is $49.88 and its 200-day moving average is $49.34. Nucor Corp. has a one year low of $33.90 and a one year high of $57.08.
Nucor Corp. (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. On average, equities research analysts expect that Nucor Corp. will post $2.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 3.26%. Nucor Corp.’s dividend payout ratio (DPR) is currently 102.04%.
In other news, CFO James D. Frias sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $53.14, for a total value of $478,260.00. Following the sale, the chief financial officer now directly owns 156,065 shares of the company’s stock, valued at approximately $8,293,294.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James R. Darsey sold 71,465 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $52.45, for a total value of $3,748,339.25. Following the completion of the sale, the insider now directly owns 234,135 shares in the company, valued at $12,280,380.75. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Blue Chip Partners Inc. bought a new stake in shares of Nucor Corp. during the second quarter worth approximately $102,000. Tuttle Tactical Management LLC bought a new stake in shares of Nucor Corp. during the second quarter worth approximately $116,000. NEXT Financial Group Inc boosted its stake 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 worth $114,000 after buying an additional 100 shares in the last quarter. SevenBridge Financial Group LLC bought a new stake in shares of Nucor Corp. during the second quarter worth approximately $114,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Nucor Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 2,494 shares of the company’s stock worth $123,000 after buying an additional 19 shares in the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Corp. Company Profile
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.
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