Revenue Update on Nucor Corporation(NYSE:NUE)

Nucor Corporation(NYSE:NUE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $4.25B. Analysts estimated a revenue of $4.49B. Earnings per share were $0.76. Analysts had estimated an EPS of $0.70.

In a different note, On Jul 13, 2016, Barclays said it Maintains its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 6, 2016, Deutsche Bank said it Upgrades its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 24, 2016, Argus Research said it Upgrades its rating on Nucor Corporation. The shares have been rated ‘Buy’ by the firm. On Jun 10, 2016, Jefferies said it Maintains its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $56.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 8, 2016, Credit Suisse said it Maintains its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Neutral’ by the firm.

Nucor Corporation (NUE) shares turned negative on Wednesdays trading session with the shares closing down -1.62 points or -2.91% at a volume of 55,42,286. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $54.54. The peak price level was also seen at $54.54 while the days lowest was $53.51. Finally the shares closed at $54.09. The 52-week high of the shares is $57.08 while the 52-week low is $33.9. According to the latest information available, the market cap of the company is $17,197 M.

Several Insider Transactions has been reported to the SEC. On May 3, 2016, Robert J Stratman (Executive Vice President) sold 52,631 shares at $49.90 per share price.Also, On Apr 29, 2016, D. Chad Utermark (Executive Vice President) sold 2,050 shares at $50.65 per share price.On Feb 23, 2016, Raymond S Jr Napolitan (Executive Vice President) sold 7,000 shares at $39.94 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.

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