Nucor Given Average Recommendation of “Hold” by Brokerages (NYSE:NUE)
Nucor (NYSE:NUE) has earned a consensus rating of “Hold” from the seventeen analysts that are covering the company, AnalystRatings.Net reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $54.64.
Nucor (NYSE:NUE) traded down 1.05% during mid-day trading on Monday, hitting $49.99. The stock had a trading volume of 868,947 shares. Nucor has a one year low of $42.22 and a one year high of $54.73. The stock has a 50-day moving average of $51.4 and a 200-day moving average of $51.01. The company has a market cap of $15.920 billion and a P/E ratio of 31.48.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, April 24th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.37 by $0.02. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, analysts predict that Nucor will post $2.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Thursday, June 26th.
A number of analysts have recently weighed in on NUE shares. Analysts at Jefferies Group reiterated a “buy” rating on shares of Nucor in a research note on Monday. They now have a $58.00 price target on the stock. Separately, analysts at Macquarie downgraded shares of Nucor from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $52.00 price target on the stock, down previously from $57.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Nucor in a research note on Thursday, May 1st. They now have a $54.00 price target on the stock.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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