Nucor Co. (NYSE:NUE) has received a consensus recommendation of “Hold” from the sixteen brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $64.00.
A number of brokerages recently commented on NUE. KeyCorp reduced their price objective on shares of Nucor from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Goldman Sachs Group reduced their price objective on shares of Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. UBS Group set a $59.00 price objective on shares of Nucor and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Bank of America downgraded shares of Nucor from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $68.00 to $50.00 in a research note on Friday, May 31st. Finally, Deutsche Bank downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th.
In other news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $58.28, for a total transaction of $582,800.00. Following the transaction, the insider now directly owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Leon J. Topalian sold 1,253 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $56.99, for a total value of $71,408.47. Following the transaction, the executive vice president now directly owns 46,593 shares in the company, valued at $2,655,335.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,314 shares of company stock worth $4,310,637. Insiders own 0.96% of the company’s stock.
Shares of NYSE:NUE opened at $55.10 on Friday. The company has a market capitalization of $16.63 billion, a P/E ratio of 6.80, a price-to-earnings-growth ratio of 0.87 and a beta of 1.54. Nucor has a 52 week low of $47.13 and a 52 week high of $68.84. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $52.39.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.05 billion. Nucor had a net margin of 9.80% and a return on equity of 24.86%. Nucor’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, equities analysts anticipate that Nucor will post 5.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, June 27th. Nucor’s payout ratio is presently 21.00%.
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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