Nucor Corporation (NUE) Given a $66.00 Price Target at Citigroup Inc.
Nucor Corporation (NYSE:NUE) received a $66.00 target price from analysts at Citigroup Inc. in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 12.59% from the company’s previous close.
NUE has been the topic of a number of other research reports. Macquarie started coverage on Nucor Corporation in a report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 price objective on the stock. ValuEngine cut Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC set a $68.00 price objective on Nucor Corporation and gave the stock a “buy” rating in a report on Monday, August 21st. Longbow Research reissued a “buy” rating and set a $66.00 price objective on shares of Nucor Corporation in a report on Thursday, July 27th. Finally, BMO Capital Markets set a $70.00 price objective on Nucor Corporation and gave the stock a “hold” rating in a report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Nucor Corporation has a consensus rating of “Hold” and an average target price of $67.19.
Nucor Corporation (NYSE NUE) opened at 58.62 on Friday. The company has a 50 day moving average price of $55.51 and a 200-day moving average price of $57.50. Nucor Corporation has a 12 month low of $46.52 and a 12 month high of $68.00. The company has a market cap of $18.72 billion, a PE ratio of 16.46 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. Equities analysts predict that Nucor Corporation will post $3.79 earnings per share for the current fiscal year.
In related news, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the transaction, the director now directly owns 33,573 shares in the company, valued at approximately $1,851,886.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following the transaction, the chairman now owns 361,847 shares in the company, valued at $21,772,333.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,604 shares of company stock worth $1,351,495. 0.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware bought a new position in Nucor Corporation during the 2nd quarter worth approximately $100,000. Krilogy Financial LLC grew its position in Nucor Corporation by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 1,700 shares during the last quarter. Washington Trust Bank grew its position in Nucor Corporation by 60.2% during the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 660 shares during the last quarter. Fiduciary Trust Co. bought a new position in Nucor Corporation during the 2nd quarter worth approximately $109,000. Finally, Sun Life Financial INC grew its position in Nucor Corporation by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 2,329 shares during the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
About Nucor Corporation
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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