Nucor Corporation (NUE) is Downgraded by Credit Agricole to Sell

Nucor Corporation (NUE) was Downgraded by Credit Agricole to ” Sell”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Agricole advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on Nucor Corporation. Nucor Corporation was Downgraded by Standpoint Research to ” Hold” on Apr 13, 2016. Company shares were Downgraded by Deutsche Bank on Mar 23, 2016 to ” Hold”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .Nucor Corporation was Initiated by Credit Suisse to “Neutral” on Mar 11, 2016.

On the company’s financial health, Nucor Corporation reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.27. The company had revenue of $3715.58 million for the quarter, compared to analysts expectations of $3608.95 million. The company’s revenue was down -15.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Nucor Corporation closed down -0.78 points or -1.55% at $49.5 with 25,91,667 shares getting traded on Wednesday. Post opening the session at $49.96, the shares hit an intraday low of $48.59 and an intraday high of $50.14 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 23, 2016, Raymond S Jr Napolitan (Executive Vice President) sold 7,000 shares at $39.94 per share price. According to the SEC, on Feb 17, 2016, Christopher J Kearney (director) purchased 5,000 shares at $40.15 per share price. On Feb 16, 2016, John J Ferriola (Chairman, President and CEO) sold 12,003 shares at $39.87 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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Nucor Corporation - Is it time to Sell?

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