Nucor Corp. (NUE) PT Set at $52.00 by Credit Suisse Group AG
Nucor Corp. (NYSE:NUE) has been assigned a $52.00 price target by equities research analysts at Credit Suisse Group AG in a report released on Saturday. The firm currently has a a “hold” rating on the stock. Credit Suisse Group AG’s target price would indicate a potential upside of 9.73% from the company’s previous close.
Several other equities research analysts also recently issued reports on NUE. Jefferies Group reissued a “buy” rating and issued a $60.00 price objective (up from $56.00) on shares of Nucor Corp. in a research note on Friday, June 10th. Bank of America Corp. reissued a “buy” rating on shares of Nucor Corp. in a research note on Friday, June 17th. Argus raised Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, June 24th. Zacks Investment Research raised Nucor Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Monday, June 27th. Finally, Deutsche Bank AG raised Nucor Corp. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $60.00 in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Nucor Corp. presently has an average rating of “Buy” and a consensus target price of $52.99.
Nucor Corp. (NYSE:NUE) traded down 1.19% during trading on Friday, reaching $47.39. The company had a trading volume of 2,361,188 shares. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $57.08. The stock has a 50 day moving average of $48.29 and a 200-day moving average of $49.60. The company has a market capitalization of $15.09 billion, a P/E ratio of 32.48 and a beta of 1.47.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/09/nucor-corp-nue-pt-set-at-52-00-by-credit-suisse-group-ag.html
Nucor Corp. (NYSE:NUE) last announced its earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. The business earned $4.25 billion during the quarter, compared to the consensus estimate of $4.49 billion. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. Equities research analysts expect that Nucor Corp. will post $2.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be given a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.17%. Nucor Corp.’s dividend payout ratio is currently 102.04%.
In other Nucor Corp. news, Chairman John J. Ferriola sold 12,128 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $54.12, for a total value of $656,367.36. Following the completion of the sale, the chairman now owns 354,420 shares in the company, valued at approximately $19,181,210.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James D. Frias sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $53.14, for a total value of $478,260.00. Following the completion of the sale, the chief financial officer now owns 156,065 shares of the company’s stock, valued at approximately $8,293,294.10. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Blue Chip Partners Inc. bought a new position in Nucor Corp. during the second quarter valued at approximately $102,000. NEXT Financial Group Inc increased its position in Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock valued at $114,000 after buying an additional 100 shares during the period. SevenBridge Financial Group LLC bought a new position in Nucor Corp. during the second quarter valued at approximately $114,000. Tuttle Tactical Management LLC bought a new position in Nucor Corp. during the second quarter valued at approximately $116,000. Finally, Sunbelt Securities Inc. increased its position in Nucor Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 2,494 shares of the company’s stock valued at $123,000 after buying an additional 19 shares during the period. Institutional investors own 77.92% of the company’s stock.
About Nucor Corp.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
Receive News & Ratings for Nucor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corp. and related companies with MarketBeat.com's FREE daily email newsletter.