Nucor Receives New Coverage from Analysts at Argus (NUE)
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Nucor in a research note on Friday, August 1st. They now have a $53.00 price target on the stock. Separately, analysts at S&P Equity Research upgraded shares of Nucor to a “buy” rating in a research note on Friday, July 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $54.45.
Nucor (NYSE:NUE) traded up 1.32% on Wednesday, hitting $50.63. The stock had a trading volume of 1,397,817 shares. Nucor has a one year low of $45.32 and a one year high of $54.73. The stock has a 50-day moving average of $50.27 and a 200-day moving average of $50.52. The company has a market cap of $16.186 billion and a price-to-earnings ratio of 27.93.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts expect that Nucor will post $2.06 EPS for the current fiscal year.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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