According to the reports of The Fly, Exane BNP Paribas cut down the rating of Nucor (NYSE:NUE) from ‘outperform’ to ‘neutral’ in a research note issued on Thursday. The present price target on the company’s stock is $48.00. The price target of the company’s stock indicates a 1.82% potential fall from the current price of the company. 

Nucor (NYSE:NUE)- Analysts’ Opinion

Several reports have been issued by various research analysts on Nucor (NYSE:NUE). In a research report issued on Friday, 2nd October, the price target on Nucor’s stock was increased from $39.00 to $48.00 by UBS Group. In a research note issued on Friday, 18th September, BMO Capital Markets increased the price target on the company from $46.00 to $50.00 along with issuing a ‘market perform’ rating. 

In a research note on Tuesday, 11th August, a ‘hold’ rating was reinstated by  Argus on Nucor (NYSE:NUE). In a research report issued on Thursday, 1st October, Nucor’s price target was increased from $42.00 to $46.00, and a ‘hold’ rating was issued by Deutsche Bank Aktiengesellschaft.

In a research report issued on Thursday, BNP Paribas reduced Nucor (NYSE:NUE)’s rating from ‘outperform’ to ‘neutral,’ and set a price target of $48.00 on the company’s stock. A ‘hold’ rating has been assigned by eight research analysts, and a ‘buy’ rating has been assigned by four analysts. The average rating of Nucor is ‘hold’ and $48.36 is the average price target. 

Nucor (NYSE:NUE)- Other News

On Thursday, Nucor (NYSE:NUE) traded down $0.49 touching hitting $48.89. The stock’s volume of trading was 14,154 shares when compared with 2,443,553, its average volume. The debt-to-equity ratio, current ratio and quick ratio of the company is 0.50, 4.39, and 2.68 respectively. 

The 50-day moving average of the company is $46.67 and $42.48 is the 200-day moving average. The market cap, PE ratio, PEG ratio and beta of Nucor (NYSE:NUE) is $14.91 billion, 29.10, 1.50, and 1.40, respectively. 

$27.52 is the 52-week low of Nucor and $58.70 is the 52-week high. 

On Thursday, 23rd July, Nucor declared its quarterly earnings result. For the current quarter, the company registered earnings per share (EPS) of $0.36 defeating the $0.14 consensus estimate by Thomson Reuters.’ For the same quarter in the previous year, the basic materials company reported an EPS of $1.26. Analysts have estimated that Nucor (NYSE:NUE) will report 2.5 as the EPS.