Equities analysts expect Nucor Corporation (NYSE:NUE) to post sales of $4.98 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nucor Corporation’s earnings. The lowest sales estimate is $4.76 billion and the highest is $5.42 billion. Nucor Corporation posted sales of $3.96 billion during the same quarter last year, which suggests a positive year over year growth rate of 25.8%. The firm is expected to report its next earnings results on Tuesday, January 30th.

According to Zacks, analysts expect that Nucor Corporation will report full-year sales of $4.98 billion for the current year, with estimates ranging from $19.92 billion to $20.58 billion. For the next fiscal year, analysts forecast that the firm will post sales of $21.63 billion per share, with estimates ranging from $20.39 billion to $23.40 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Nucor Corporation.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS.

Several equities analysts have commented on NUE shares. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. BMO Capital Markets set a $70.00 target price on shares of Nucor Corporation and gave the stock a “hold” rating in a research report on Saturday, August 26th. Credit Suisse Group lifted their target price on shares of Nucor Corporation from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Macquarie started coverage on shares of Nucor Corporation in a research report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 target price on the stock. Finally, KeyCorp reissued a “hold” rating on shares of Nucor Corporation in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Nucor Corporation has a consensus rating of “Hold” and an average target price of $67.32.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/11/15/nucor-corporation-nue-expected-to-announce-quarterly-sales-of-4-98-billion.html.

In other Nucor Corporation news, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the sale, the insider now owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the sale, the director now directly owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders have sold a total of 44,217 shares of company stock worth $2,608,231 in the last three months. Insiders own 0.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of NUE. Pioneer Investment Management Inc. grew its position in shares of Nucor Corporation by 437.2% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock valued at $104,947,000 after purchasing an additional 1,475,935 shares in the last quarter. CI Investments Inc. purchased a new position in shares of Nucor Corporation during the 3rd quarter valued at $55,250,000. Northern Trust Corp grew its position in shares of Nucor Corporation by 15.0% during the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after purchasing an additional 750,796 shares in the last quarter. Balyasny Asset Management LLC grew its position in shares of Nucor Corporation by 55.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,471,244 shares of the basic materials company’s stock valued at $85,141,000 after purchasing an additional 524,476 shares in the last quarter. Finally, Prudential PLC grew its position in shares of Nucor Corporation by 28.2% during the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after purchasing an additional 496,700 shares in the last quarter. 74.59% of the stock is currently owned by institutional investors and hedge funds.

Nucor Corporation (NUE) opened at $54.86 on Wednesday. Nucor Corporation has a 1 year low of $51.67 and a 1 year high of $68.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The company has a market cap of $17,749.29, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.75%. Nucor Corporation’s payout ratio is 43.90%.

About Nucor Corporation

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Get a free copy of the Zacks research report on Nucor Corporation (NUE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Nucor Corporation (NYSE:NUE)

Receive News & Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.