Nucor Corporation (NUE) is Downgraded by Macquarie to Underperform

Nucor Corporation (NUE) was Downgraded by Macquarie to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Macquarie advised their investors in a research report released on Nov 29, 2016.

Many Wall Street Analysts have commented on Nucor Corporation. Nucor Corporation was Downgraded by Berenberg to ” Hold” on Nov 14, 2016. Nucor Corporation was Upgraded by BofA/Merrill to ” Buy” on Nov 9, 2016. Nucor Corporation was Upgraded by Berenberg to ” Buy” on Nov 2, 2016.

On the company’s financial health, Nucor Corporation reported $0.84 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Oct 20, 2016. Analyst had a consensus of $0.90. The company had revenue of $4290.00 million for the quarter, compared to analysts expectations of $4501.04 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Nucor Corporation opened for trading at $62.75 and hit $62.9 on the upside on Friday, eventually ending the session at $62.85, with a gain of 0.54% or 0.34 points. The heightened volatility saw the trading volume jump to 8,55,138 shares. Company has a market cap of $20,017 M.

In a different news, on Nov 15, 2016, James R Darsey (Executive Vice President) sold 30,202 shares at $58.01 per share price. According to the SEC, on Nov 15, 2016, Robert J Stratman (Executive Vice President) sold 15,744 shares at $59.21 per share price. On Jul 28, 2016, James D Frias (CFO, Treasurer and EVP) sold 9,000 shares at $53.14 per share price, according to the Form-4 filing with the securities and exchange commission.

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. In the steel mills segment Nucor produces and distributes sheet steel plate steel structural steel and bar steel. In the steel products segment Nucor produces steel joists and joist girders steel deck fabricated concrete reinforcing steel cold finished steel steel fasteners metal building systems steel grating and expanded metal and wire and wire mesh. In the raw materials segment the Company produces DRI; brokers ferrous and nonferrous metals pig iron HBI and DRI; supplies ferro-alloys and processes ferrous and nonferrous scrap metal.

Nucor Corporation

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