Traders Purchase High Volume of Nucor Put Options (NUE)
Nucor (NYSE:NUE) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 1,811 put options on the company, AmericanBankingNews.com reports. This represents an increase of approximately 116% compared to the average daily volume of 838 put options.
NUE has been the subject of a number of recent research reports. 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 research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $54.45.
Nucor (NYSE:NUE) traded up 0.67% during mid-day trading on Friday, hitting $54.32. The stock had a trading volume of 849,021 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 $51.44 and its 200-day moving average is $50.98. The company has a market cap of $17.320 billion and a P/E ratio of 30.16.
Nucor (NYSE:NUE) last issued its quarterly earnings data 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 $2.05 EPS for the current fiscal year.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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