Nucor Corp. Receives Positive Rating from UBS AG (NUE)
Nucor Corp. (NYSE:NUE)‘s stock had its “positive” rating restated by equities research analysts at UBS AG in a research note issued to investors on Tuesday, Analyst Ratings News reports.
The analysts wrote, “Nucor has a sustained record of high margin and ROE generation, only one annual earnings loss in its history (2009), a healthy balance sheet, and over 40 years of uninterrupted quarterly cash dividends. Nucor invests with a long-term view which means investing consistently during downturns, thereby improving earnings power and leverage to recoveries. We believe Nucor’s cost basis will improve with the startup of its second DRI facility and over the long-run from its investments in natural gas. While Nucor maintains a diversified product mix, roughly 65% of its end-demand is tied to construction which has yet to take off following the financial crisis. We rate Nucor a Buy and our $56 price target is based on a 7.5x EV/EBITDA (2015) multiple.”
Shares of Nucor Corp. (NYSE:NUE) opened at 50.73 on Tuesday. Nucor Corp. has a 1-year low of $38.83 and a 1-year high of $51.49. The stock’s 50-day moving average is $48.87 and its 200-day moving average is $46.04. The company has a market cap of $16.200 billion and a price-to-earnings ratio of 35.73.
Nucor Corp. (NYSE:NUE) last announced its earnings results on Thursday, October 17th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $0.45 earnings per share. Nucor Corp.’s revenue was up 2.9% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Nucor Corp. in a research note to investors on Monday. They now have a $54.00 price target on the stock. Separately, analysts at BMO Capital Markets reiterated a “buy” rating on shares of Nucor Corp. in a research note to investors on Friday. They now have a $54.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Nucor Corp. from $45.00 to $50.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Nucor Corp. has a consensus rating of “Hold” and an average price target of $50.75.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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