KeyCorp Weighs in on Nucor Corporation’s FY2016 Earnings (NUE)

Nucor Corporation (NYSE:NUE) – Analysts at KeyCorp reduced their FY2016 EPS estimates for shares of Nucor Corporation in a research note issued to investors on Monday. KeyCorp analyst P. Gibbs now anticipates that the brokerage will earn $2.16 per share for the year, down from their prior forecast of $2.28. KeyCorp has a “Overweight” rating and a $70.00 price objective on the stock. KeyCorp also issued estimates for Nucor Corporation’s FY2017 earnings at $3.30 EPS and FY2018 earnings at $4.20 EPS.

A number of other equities analysts have also recently weighed in on the stock. Argus reissued a “buy” rating and issued a $65.00 price objective (up from $58.00) on shares of Nucor Corporation in a research report on Monday, November 21st. Vetr lowered shares of Nucor Corporation from a “sell” rating to a “strong sell” rating and set a $55.66 target price on the stock. in a research note on Monday, December 5th. BMO Capital Markets set a $51.00 target price on shares of Nucor Corporation and gave the company a “hold” rating in a research note on Wednesday, September 14th. Berenberg Bank lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating and upped their target price for the company from $57.00 to $61.00 in a research note on Monday, November 14th. They noted that the move was a valuation call. Finally, Jefferies Group restated a “buy” rating on shares of Nucor Corporation in a research note on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $59.39.

TRADEMARK VIOLATION NOTICE: “KeyCorp Weighs in on Nucor Corporation’s FY2016 Earnings (NUE)” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this report can be accessed at https://www.com-unik.info/2017/01/11/keycorp-weighs-in-on-nucor-corporations-fy2016-earnings-nue.html.

Shares of Nucor Corporation (NYSE:NUE) traded down 0.02% during midday trading on Wednesday, reaching $61.21. The company’s stock had a trading volume of 1,048,281 shares. The stock has a 50 day moving average of $62.30 and a 200-day moving average of $53.53. Nucor Corporation has a 1-year low of $33.90 and a 1-year high of $68.00. The company has a market capitalization of $19.49 billion, a P/E ratio of 38.40 and a beta of 1.50.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. Nucor Corporation had a return on equity of 9.27% and a net margin of 3.26%. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the business earned $0.71 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year.

Several large investors have recently made changes to their positions in NUE. Kanaly Trust Co raised its stake in shares of Nucor Corporation by 0.5% in the second quarter. Kanaly Trust Co now owns 3,326 shares of the company’s stock valued at $164,000 after buying an additional 15 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Nucor Corporation 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. Savant Capital LLC boosted its position in Nucor Corporation by 0.4% in the second quarter. Savant Capital LLC now owns 5,052 shares of the company’s stock valued at $250,000 after buying an additional 20 shares during the period. Pittenger & Anderson Inc. boosted its position in Nucor Corporation by 0.7% in the second quarter. Pittenger & Anderson Inc. now owns 3,625 shares of the company’s stock valued at $179,000 after buying an additional 25 shares during the period. Finally, KCM Investment Advisors LLC boosted its position in Nucor Corporation by 0.5% in the third quarter. KCM Investment Advisors LLC now owns 5,205 shares of the company’s stock valued at $257,000 after buying an additional 27 shares during the period. Institutional investors own 76.76% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “KeyCorp Weighs in on Nucor Corporation’s FY2016 Earnings (NUE)” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this report can be accessed at https://www.com-unik.info/2017/01/11/keycorp-weighs-in-on-nucor-corporations-fy2016-earnings-nue.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, December 30th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.47%. This is a positive change from Nucor Corporation’s previous quarterly dividend of $0.38. Nucor Corporation’s dividend payout ratio (DPR) is presently 94.38%.

About Nucor Corporation

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.

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