Nucor Sees Unusually High Options Volume (NUE)
Nucor (NYSE:NUE) was the target of some unusual options trading activity on Thursday. Traders acquired 10,801 call options on the company, Stock Ratings Network reports. This represents an increase of approximately 221% compared to the average volume of 3,367 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 analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.45.
Shares of Nucor (NYSE:NUE) traded up 1.40% during mid-day trading on Thursday, hitting $55.79. 2,393,661 shares of the company’s stock traded hands. Nucor has a 1-year low of $46.06 and a 1-year high of $55.26. The stock has a 50-day moving average of $51.9 and a 200-day moving average of $51.0. The company has a market cap of $17.788 billion and a price-to-earnings ratio of 30.75.
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 $2.07 EPS for the current fiscal year.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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