Nucor Corp. Price Target Raised to $50.00 at Deutsche Bank (NUE)
Research analysts at Deutsche Bank raised their target price on shares of Nucor Corp. (NYSE:NUE) from $45.00 to $50.00 in a report released on Friday, American Banking News reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price objective points to a potential downside of 2.13% from the company’s current price.
A number of other firms have also recently commented on NUE. Analysts at CIBC raised their price target on shares of Nucor Corp. from $46.00 to $47.00 in a research note to investors on Friday. They now have a “sector underperform” rating on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Nucor Corp. in a research note to investors on Wednesday. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.38.
Nucor Corp. (NYSE:NUE) traded up 0.59% on Friday, hitting $51.09. 2,703,357 shares of the company’s stock traded hands. Nucor Corp. has a 52 week low of $38.83 and a 52 week high of $51.25. The stock’s 50-day moving average is $48.72 and its 200-day moving average is $45.95. The company has a market cap of $16.256 billion and a P/E ratio of 39.07.
Nucor Corp. (NYSE:NUE) last released its earnings data on Thursday, October 17th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.07. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Nucor Corp. will post $1.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 8th. Stockholders 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 2.88%. 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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