Nucor (NUE) Stock Rating Reaffirmed by Jefferies Group

Jefferies Group reissued their buy rating on shares of Nucor (NYSE:NUE) in a research note published on Tuesday, January 9th. Jefferies Group currently has a $77.00 price target on the basic materials company’s stock. Jefferies Group also issued estimates for Nucor’s Q4 2017 earnings at $0.55 EPS, FY2018 earnings at $4.62 EPS and FY2019 earnings at $4.94 EPS.

Several other brokerages also recently issued reports on NUE. Bank of America set a $75.00 price objective on shares of Nucor and gave the company a buy rating in a research report on Monday, January 8th. Zacks Investment Research raised shares of Nucor from a sell rating to a hold rating and set a $76.00 price objective for the company in a research report on Monday, January 8th. ValuEngine raised shares of Nucor from a hold rating to a buy rating in a research report on Sunday, December 31st. Longbow Research raised shares of Nucor from a neutral rating to a buy rating in a research report on Wednesday, December 20th. Finally, Cowen raised their price target on shares of Nucor from $57.00 to $63.00 and gave the stock a market perform rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $68.37.

Shares of Nucor (NYSE:NUE) opened at $69.26 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The stock has a market cap of $21,920.36, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.21 and a beta of 1.58.

Nucor (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, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $0.88 earnings per share. Nucor’s revenue for the quarter was up 20.5% on a year-over-year basis. equities research analysts forecast that Nucor will post 3.5 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, December 28th. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is currently 44.19%.

In other Nucor news, insider D. Chad Utermark sold 9,003 shares of Nucor stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares of the company’s stock, valued at $4,412,292.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the transaction, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,754 shares of company stock valued at $4,964,014. 0.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Berkshire Asset Management LLC PA boosted its holdings in Nucor by 10.9% in the fourth quarter. Berkshire Asset Management LLC PA now owns 255,441 shares of the basic materials company’s stock worth $16,241,000 after purchasing an additional 25,033 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Nucor by 5.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,229,908 shares of the basic materials company’s stock valued at $78,198,000 after buying an additional 61,563 shares during the last quarter. Coastline Trust Co bought a new stake in Nucor in the fourth quarter valued at $350,000. Creative Planning lifted its stake in Nucor by 4.3% in the fourth quarter. Creative Planning now owns 32,481 shares of the basic materials company’s stock valued at $2,065,000 after buying an additional 1,341 shares during the last quarter. Finally, Searle & CO. lifted its stake in Nucor by 4.7% in the fourth quarter. Searle & CO. now owns 44,650 shares of the basic materials company’s stock valued at $2,839,000 after buying an additional 2,000 shares during the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

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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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