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Nucor (NYSE:NUE) shares hit a new 52-week high on Wednesday , Analyst Ratings Network reports. The company traded as high as $55.21 and last traded at $55.07, with a volume of 865,235 shares changing hands. The stock had previously closed at $53.92.

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 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. The stock currently has a consensus rating of “Hold” and an average price target of $54.45.

The stock’s 50-day moving average is $51.80 and its 200-day moving average is $51.06. The company has a market cap of $17.546 billion and a price-to-earnings ratio of 30.14.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.27 earnings per share. Nucor’s revenue was up 13.4% compared to the same quarter last year. 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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