Nucor Co. (NUE) Receives Average Recommendation of “Buy” from Analysts

Nucor Co. (NYSE:NUE) has been given an average recommendation of “Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $71.04.

Several equities analysts have recently issued reports on NUE shares. Zacks Investment Research raised Nucor from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Credit Suisse Group boosted their price objective on Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Citigroup set a $66.00 price objective on Nucor and gave the company a “buy” rating in a report on Friday, October 20th. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $77.00 price objective on shares of Nucor in a report on Tuesday, January 9th.

In related news, EVP Robert J. Stratman sold 39,037 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $63.88, for a total value of $2,493,683.56. Following the completion of the transaction, the executive vice president now owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Independence Bank of Kentucky acquired a new position in shares of Nucor during the fourth quarter valued at approximately $100,000. Barrett Asset Management LLC acquired a new position in shares of Nucor during the fourth quarter valued at approximately $101,000. Cerebellum GP LLC acquired a new position in shares of Nucor during the fourth quarter valued at approximately $131,000. Financial Gravity Companies Inc. acquired a new position in shares of Nucor during the fourth quarter valued at approximately $140,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Nucor by 791.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 2,373 shares during the last quarter. 74.10% of the stock is owned by institutional investors and hedge funds.

Shares of Nucor (NUE) traded up $0.65 during mid-day trading on Tuesday, hitting $64.09. The stock had a trading volume of 1,805,621 shares, compared to its average volume of 3,151,818. The firm has a market cap of $19,637.71, a PE ratio of 15.50, a PEG ratio of 1.05 and a beta of 1.56. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. research analysts expect that Nucor will post 4.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, December 29th were issued a $0.38 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.37%. Nucor’s dividend payout ratio is presently 36.72%.

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Nucor Company Profile

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).

Analyst Recommendations for Nucor (NYSE:NUE)

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