Nucor Corp. Target of Unusually Large Options Trading (NUE)
Shares of Nucor Corp. (NYSE:NUE) saw some unusual options trading on Tuesday. Investors bought 9,465 call options on the company, Stock Ratings Network reports. This is an increase of 352% compared to the typical volume of 2,093 call options.
NUE has been the subject of a number of recent research reports. Analysts at BMO Capital Markets initiated coverage on shares of Nucor Corp. (NYSE:NUE) in a research note to investors on Tuesday, September 17th. They set an “outperform” rating and a $54.00 price target on the stock. Separately, analysts at CIBC downgraded shares of Nucor Corp. (NYSE:NUE) from a “sector perform” rating to an “underperform” rating in a research note to investors on Tuesday, September 17th. Finally, analysts at Jefferies Group raised their price target on shares of Nucor Corp. (NYSE:NUE) from $53.00 to $55.00 in a research note to investors on Monday, September 16th. They now have a “buy” rating on the stock.
Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $50.68.
Nucor Corp. (NYSE:NUE) opened at 50.30 on Wednesday. Nucor Corp. has a 52-week low of $37.70 and a 52-week high of $51.25. The stock has a 50-day moving average of $47.52 and a 200-day moving average of $45.60. The company has a market cap of $16.005 billion and a price-to-earnings ratio of 38.41.
Nucor Corp. (NYSE:NUE) last released its earnings data on Thursday, July 18th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was down 8.6% on a year-over-year basis. Analysts expect that Nucor Corp. will post $1.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.37 per share. This represents a $1.47 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Wednesday, September 25th.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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