Posted by admin on May 11th, 2022

Brokerages expect Nucor Co. (NYSE:NUE – Get Rating) to announce earnings of $6.93 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Nucor’s earnings. The lowest EPS estimate is $5.49 and the highest is $8.12. Nucor posted earnings per share of $5.04 in the same quarter last year, which would indicate a positive year over year growth rate of 37.5%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Nucor will report full-year earnings of $21.27 per share for the current year, with EPS estimates ranging from $19.10 to $22.40. For the next fiscal year, analysts anticipate that the business will post earnings of $12.01 per share, with EPS estimates ranging from $8.76 to $18.12. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Nucor.

Nucor (NYSE:NUE – Get Rating) last released its earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $7.39 by $0.28. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.72 billion. Nucor had a return on equity of 55.61% and a net margin of 19.97%. Nucor’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.10 earnings per share.

Several equities analysts have recently commented on NUE shares. The Goldman Sachs Group boosted their price objective on Nucor from $134.00 to $148.00 and gave the company a “neutral” rating in a research report on Friday, April 22nd. Morgan Stanley boosted their price objective on Nucor from $107.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday, January 31st. Wolfe Research downgraded Nucor from a “peer perform” rating to an “underperform” rating and set a $102.00 price objective on the stock. in a research report on Tuesday, January 11th. Argus boosted their price objective on Nucor from $140.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, April 25th. Finally, Credit Suisse Group lifted their target price on Nucor from $142.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $143.64.

Shares of Nucor stock traded up $0.92 during trading hours on Wednesday, hitting $130.45. The company’s stock had a trading volume of 10,903 shares, compared to its average volume of 3,529,217. The business has a 50 day moving average price of $148.43 and a two-hundred day moving average price of $125.41. Nucor has a 12-month low of $87.71 and a 12-month high of $187.90. The company has a market cap of $35.06 billion, a PE ratio of 4.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.66 and a current ratio of 2.88.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 11th. Shareholders of record on Thursday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, March 30th. This represents a $2.00 annualized dividend and a yield of 1.53%. Nucor’s payout ratio is currently 7.15%.

In other news, EVP Allen C. Behr sold 3,014 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $143.40, for a total transaction of $432,207.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Leon J. Topalian sold 16,589 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $148.28, for a total value of $2,459,816.92. The disclosure for this sale can be found here. Insiders have sold 31,639 shares of company stock worth $4,736,302 over the last three months. 0.46% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in shares of Nucor in the first quarter valued at approximately $54,000. FMR LLC boosted its holdings in shares of Nucor by 123.0% in the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after purchasing an additional 371,876 shares during the period. Center for Financial Planning Inc. purchased a new stake in shares of Nucor in the third quarter valued at approximately $79,000. Moors & Cabot Inc. boosted its holdings in shares of Nucor by 761.1% in the third quarter. Moors & Cabot Inc. now owns 31,000 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 27,400 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Nucor by 35.0% in the third quarter. Mackenzie Financial Corp now owns 21,239 shares of the basic materials company’s stock valued at $2,092,000 after purchasing an additional 5,507 shares during the period. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Corporation manufactures and sells steel and steel products. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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