Nucor Co. (NUE) Updates Q2 Earnings Guidance
Nucor Co. (NYSE:NUE) updated its second quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.35-0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.59, AnalystRatingsNetwork reports.
Shares of Nucor Co. (NYSE:NUE) opened at 51.68 on Friday. Nucor Co. has a 52 week low of $42.22 and a 52 week high of $54.73. The stock has a 50-day moving average of $51.46 and a 200-day moving average of $51.01. The company has a market cap of $16.458 billion and a P/E ratio of 32.20.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, April 24th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.02. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts predict that Nucor Co. will post $2.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, June 26th.
A number of analysts have recently weighed in on NUE shares. Analysts at Zacks reiterated a neutral rating on shares of Nucor in a research note on Thursday, May 1st. They now have a $54.00 price target on the stock. On a related note, analysts at Deutsche Bank reiterated a hold rating on shares of Nucor in a research note on Monday, April 28th. They now have a $50.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an overweight rating on shares of Nucor in a research note on Friday, April 25th. They now have a $58.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Nucor presently has an average rating of Hold and a consensus price target of $55.00.
Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.
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