Nucor Corp. (NUE) Releases Quarterly Earnings Results
Nucor Corp. (NYSE:NUE) posted its quarterly earnings results on Thursday. The company reported $0.35 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.02, AR Network reports. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter last year, the company posted $0.26 earnings per share. Nucor Corp.’s revenue was up 12.3% compared to the same quarter last year.
Nucor Corp. (NYSE:NUE) traded down 1.83% on Thursday, hitting $51.58. The stock had a trading volume of 698,719 shares. Nucor Corp. has a 52 week low of $42.22 and a 52 week high of $54.73. The stock has a 50-day moving average of $50.74 and a 200-day moving average of $51.05. The company has a market cap of $16.421 billion and a price-to-earnings ratio of 34.57.
A number of research firms have recently commented on NUE. Analysts at KeyCorp cut their price target on shares of Nucor Corp. from $59.00 to $58.00 in a research note on Monday, March 31st. They now have a “buy” rating on the stock. On a related note, analysts at Credit Suisse downgraded shares of Nucor Corp. from an “outperform” rating to a “neutral” rating in a research note on Friday, March 14th. They now have a $50.00 price target on the stock, down previously from $55.00. They noted that the move was a valuation call. Finally, analysts at Cowen and Company raised their price target on shares of Nucor Corp. from $45.00 to $54.00 in a research note on Friday, January 31st. They now have a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.64.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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