Nucor’s “Neutral” Rating Reaffirmed at Zacks (NUE)
Nucor (NYSE:NUE)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday. They currently have a $53.00 price target on the stock. Zacks‘s price objective points to a potential upside of 6.40% from the company’s current price.
Shares of Nucor (NYSE:NUE) opened at 49.81 on Friday. Nucor has a 52-week low of $45.32 and a 52-week high of $54.73. The stock has a 50-day moving average of $50.30 and a 200-day moving average of $50.55. The company has a market cap of $15.924 billion and a price-to-earnings ratio of 28.07.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, July 24th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts predict that Nucor will post $2.08 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at S&P Equity Research upgraded shares of Nucor to a “buy” rating in a research note on Friday, July 25th. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Nucor in a research note on Friday, July 25th. They now have a $57.00 price target on the stock, down previously from $58.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Nucor in a research note on Monday, June 23rd. They now have a $58.00 price target on the stock, down previously from $59.00. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $54.45.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
To view Zacks’ full report, visit Zacks’ official website.
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