Nucor Target of Unusually Large Options Trading (NUE)
Shares of Nucor (NYSE:NUE) were the recipient of unusually large options trading activity on Monday. Traders purchased 15,713 call options on the stock, Stock Ratings Network.com reports. This is an increase of 535% compared to the typical daily volume of 2,473 call options.
A number of analysts have recently weighed in on NUE shares. Analysts at Argus initiated coverage on shares of Nucor in a research note on Wednesday, August 6th. They set a “hold” rating on the stock. Separately, 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. Finally, analysts at S&P Equity Research upgraded shares of Nucor to a “buy” rating in a research note on Friday, July 25th. One investment 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. Nucor has an average rating of “Hold” and a consensus target price of $54.45.
Shares of Nucor (NYSE:NUE) traded up 3.17% on Monday, hitting $53.65. The stock had a trading volume of 2,672,492 shares. Nucor has a 52 week low of $45.32 and a 52 week high of $54.73. The stock’s 50-day moving average is $50.54 and its 200-day moving average is $50.64. The company has a market cap of $17.106 billion and a P/E ratio of 29.07.
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. 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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