Nucor Co. (NYSE:NUE) Receives $113.42 Consensus Target Price from Brokerages

Nucor Co. (NYSE:NUE) has been given an average recommendation of “Hold” by the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $113.42.

A number of equities analysts recently commented on the stock. Wolfe Research started coverage on shares of Nucor in a research report on Tuesday, November 16th. They issued a “market perform” rating and a $104.00 target price on the stock. Credit Suisse Group restated a “buy” rating and issued a $142.00 price objective on shares of Nucor in a research report on Friday, September 17th. Argus boosted their price objective on shares of Nucor from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, August 24th. Seaport Res Ptn restated a “buy” rating on shares of Nucor in a research report on Monday, August 23rd. Finally, The Goldman Sachs Group cut shares of Nucor from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $123.00 to $108.00 in a research report on Wednesday, October 6th.

NYSE:NUE traded down $3.59 during trading hours on Friday, reaching $115.79. The company’s stock had a trading volume of 2,648,117 shares, compared to its average volume of 3,315,990. The firm has a market capitalization of $33.09 billion, a price-to-earnings ratio of 6.93 and a beta of 1.45. The firm has a 50-day simple moving average of $105.80 and a 200-day simple moving average of $105.20. Nucor has a 1 year low of $47.94 and a 1 year high of $128.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 2.53.

Nucor (NYSE:NUE) last issued its earnings results on Wednesday, October 20th. The basic materials company reported $7.28 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($0.18). The business had revenue of $10.31 billion during the quarter, compared to analysts’ expectations of $10.24 billion. Nucor had a return on equity of 40.10% and a net margin of 15.86%. Nucor’s revenue for the quarter was up 109.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Equities analysts anticipate that Nucor will post 22.83 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 10th. Stockholders of record on Thursday, September 30th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, September 29th. Nucor’s payout ratio is 9.69%.

A number of large investors have recently bought and sold shares of the stock. Kentucky Retirement Systems boosted its stake in Nucor by 0.5% during the third quarter. Kentucky Retirement Systems now owns 17,517 shares of the basic materials company’s stock worth $1,725,000 after acquiring an additional 92 shares in the last quarter. AllSquare Wealth Management LLC boosted its stake in Nucor by 23.5% during the second quarter. AllSquare Wealth Management LLC now owns 526 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in Nucor by 0.3% in the third quarter. Horrell Capital Management Inc. now owns 29,497 shares of the basic materials company’s stock worth $2,905,000 after buying an additional 100 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Nucor by 1.2% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,454 shares of the basic materials company’s stock worth $833,000 after buying an additional 100 shares during the last quarter. Finally, Intrust Bank NA raised its holdings in Nucor by 0.7% in the second quarter. Intrust Bank NA now owns 14,690 shares of the basic materials company’s stock worth $1,410,000 after buying an additional 103 shares during the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.

About Nucor

Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises of carbon and alloy steel in sheet, bars; structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments.

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Analyst Recommendations for Nucor (NYSE:NUE)

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