BMO Capital Markets Reiterates “$62.00” Price Target for Nucor Corporation (NUE)
Nucor Corporation (NYSE:NUE) received a $62.00 target price from research analysts at BMO Capital Markets in a research report issued on Friday. The firm presently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 13.14% from the stock’s current price.
Several other brokerages have also recently issued reports on NUE. Cowen and Company reaffirmed a “market perform” rating and issued a $63.00 target price (up from $62.00) on shares of Nucor Corporation in a report on Tuesday, July 25th. Longbow Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a report on Thursday, July 27th. KeyCorp reaffirmed a “hold” rating on shares of Nucor Corporation in a report on Thursday, October 19th. Citigroup Inc. set a $66.00 price objective on shares of Nucor Corporation and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Credit Suisse Group boosted their price objective on shares of Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Nucor Corporation has an average rating of “Hold” and an average target price of $67.32.
Nucor Corporation (NYSE NUE) opened at $54.80 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. The stock has a market cap of $17,420.00, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59. Nucor Corporation has a twelve month low of $51.67 and a twelve month high of $68.00.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. sell-side analysts predict that Nucor Corporation will post 3.7 EPS for the current fiscal year.
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In related news, insider Ladd R. Hall sold 17,583 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the transaction, the insider now owns 206,406 shares in the company, valued at $11,959,163.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the transaction, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,217 shares of company stock valued at $2,608,231. 0.70% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Accredited Investors Inc. boosted its position in shares of Nucor Corporation by 0.6% during the second quarter. Accredited Investors Inc. now owns 3,917 shares of the basic materials company’s stock worth $227,000 after acquiring an additional 25 shares during the last quarter. FineMark National Bank & Trust raised its stake in Nucor Corporation by 0.3% during the second quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 26 shares in the last quarter. ING Groep NV raised its stake in Nucor Corporation by 0.3% during the second quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock valued at $960,000 after purchasing an additional 43 shares in the last quarter. Boys Arnold & Co. Inc. raised its stake in Nucor Corporation by 0.3% during the second quarter. Boys Arnold & Co. Inc. now owns 16,679 shares of the basic materials company’s stock valued at $965,000 after purchasing an additional 50 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its stake in Nucor Corporation by 0.5% during the second quarter. Chartwell Investment Partners LLC now owns 12,180 shares of the basic materials company’s stock valued at $705,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 74.59% 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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