Nucor (NYSE: NUE) was upgraded by research analysts at Longbow Research from a “neutral” rating to a “buy” rating in a report released on Monday.
Nucor traded up 0.52% on Monday, hitting $44.60. Nucor has a 1-year low of $34.23 and a 1-year high of $48.60. The stock’s 50-day moving average is currently $46.40. The company has a market cap of $14.207 billion and a price-to-earnings ratio of 28.08.
Nucor last announced its earnings results on Tuesday, January 29th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.12. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Analysts expect that Nucor will post $2.45 EPS for the current fiscal year.
A number of other firms have also recently commented on NUE. Analysts at Zacks reiterated a “neutral” rating on shares of Nucor in a research note to investors on Thursday, January 31st. They now have a $49.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Nucor to $53.00 in a research note to investors on Thursday, January 31st. They now have a “buy” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Nucor from $38.00 to $42.00 in a research note to investors on Wednesday, January 30th. They now have an “equal weight” rating on the stock.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.37 per share. This represents a $1.47 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Tuesday, March 26th.
Nucor Corporation and its affiliates (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in its steel mills.
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