Nucor Co. (NUE) Given Consensus Rating of “Buy” by Analysts
Shares of Nucor Co. (NYSE:NUE) have earned a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $70.67.
A number of brokerages have weighed in on NUE. Standpoint Research raised shares of Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Longbow Research cut shares of Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. ValuEngine cut shares of Nucor from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st. Finally, Cowen began coverage on shares of Nucor in a report on Tuesday, January 8th. They set an “outperform” rating and a $62.00 target price on the stock.
In related news, Chairman John J. Ferriola sold 87,719 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $60.35, for a total value of $5,293,841.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by company insiders.
NUE traded down $0.09 during trading on Thursday, hitting $56.79. The company had a trading volume of 63,234 shares, compared to its average volume of 2,219,351. The stock has a market capitalization of $17.37 billion, a PE ratio of 7.44, a P/E/G ratio of 0.79 and a beta of 1.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.08 and a quick ratio of 1.45. Nucor has a 1-year low of $49.79 and a 1-year high of $68.84.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.14. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.29 billion. Nucor had a net margin of 9.42% and a return on equity of 24.57%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts forecast that Nucor will post 5.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, March 29th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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