Nucor’s “Buy” Rating Reaffirmed at Jefferies Group (NUE)
Nucor (NYSE:NUE)‘s stock had its “buy” rating reiterated by Jefferies Group in a research note issued on Monday. They currently have a $58.00 target price on the stock. Jefferies Group’s price target would indicate a potential upside of 14.81% from the company’s current price.
Shares of Nucor (NYSE:NUE) traded down 1.21% on Monday, hitting $49.91. 843,834 shares of the company’s stock traded hands. Nucor has a 1-year low of $42.22 and a 1-year high of $54.73. The stock’s 50-day moving average is $51.4 and its 200-day moving average is $51.01. The company has a market cap of $15.895 billion and a price-to-earnings ratio of 31.48.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter 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 declared a quarterly dividend, which is scheduled for Monday, August 11th. Stockholders of record on Monday, June 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 26th.
A number of other analysts have also recently weighed in on NUE. 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. Separately, 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. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Nucor in a research note on Monday, April 28th. They now have a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Nucor presently has an average rating of “Hold” and an average target price of $54.64.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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