Nucor Corp. PT Raised to $47.00 (NUE)
Equities research analysts at CIBC lifted their price objective on shares of Nucor Corp. (NYSE:NUE) from $46.00 to $47.00 in a research note issued to investors on Friday, American Banking & Market News reports. The firm currently has a “sector underperform” rating on the stock. CIBC’s price objective would indicate a potential downside of 8.01% from the company’s current price.
A number of other analysts have also recently weighed in on NUE. 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. Separately, analysts at BMO Capital Markets initiated coverage on shares of Nucor Corp. in a research note to investors on Tuesday, September 17th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Nucor Corp. 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 analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Nucor Corp. presently has an average rating of “Hold” and a consensus target price of $50.38.
Shares of 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 has a 50-day moving average of $48.72 and a 200-day moving average of $45.95. The company has a market cap of $16.256 billion and a price-to-earnings ratio of 39.07.
Nucor Corp. (NYSE:NUE) last announced its earnings results 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. Analysts expect that Nucor Corp. will post $1.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.37 per share. This represents a $1.47 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, September 25th.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.