Nucor Co. (NUE) Expected to Announce Earnings of $0.76 Per Share

Equities research analysts predict that Nucor Co. (NYSE:NUE) will announce $0.76 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Nucor’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.79. Nucor reported earnings of $0.50 per share in the same quarter last year, which suggests a positive year over year growth rate of 52%. The business is expected to report its next earnings results on Tuesday, January 30th.

On average, analysts expect that Nucor will report full-year earnings of $3.69 per share for the current year, with EPS estimates ranging from $3.55 to $3.76. For the next fiscal year, analysts anticipate that the business will post earnings of $4.45 per share, with EPS estimates ranging from $3.75 to $4.75. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Nucor.

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

NUE has been the topic of several research analyst reports. Jefferies Group set a $68.00 price objective on Nucor and gave the company a “buy” rating in a research note on Monday, August 21st. BMO Capital Markets set a $70.00 price objective on Nucor and gave the company a “hold” rating in a research note on Saturday, August 26th. ValuEngine lowered Nucor from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Bank of America restated a “buy” rating and issued a $73.00 price objective on shares of Nucor in a research note on Wednesday, September 6th. Finally, Macquarie began coverage on Nucor in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $67.32.

Shares of Nucor (NYSE:NUE) opened at $57.30 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. The stock has a market capitalization of $18,280.21, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.30 and a beta of 1.58. Nucor has a 52 week low of $51.67 and a 52 week high of $68.00.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor’s payout ratio is 43.90%.

In related news, Chairman John J. Ferriola sold 15,131 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total transaction of $913,912.40. Following the sale, the chairman now owns 349,506 shares of the company’s stock, valued at $21,110,162.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value 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 sold 44,217 shares of company stock worth $2,608,231 in the last ninety days. 0.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Accredited Investors Inc. grew its position in Nucor by 0.6% during the second quarter. Accredited Investors Inc. now owns 3,917 shares of the basic materials company’s stock worth $227,000 after buying an additional 25 shares in the last quarter. Boys Arnold & Co. Inc. grew its position in Nucor by 0.3% during the second quarter. Boys Arnold & Co. Inc. now owns 16,679 shares of the basic materials company’s stock worth $965,000 after buying an additional 50 shares in the last quarter. Chartwell Investment Partners LLC grew its position in Nucor by 0.5% during the second quarter. Chartwell Investment Partners LLC now owns 12,180 shares of the basic materials company’s stock worth $705,000 after buying an additional 55 shares in the last quarter. Sigma Planning Corp grew its position in Nucor by 1.4% during the second quarter. Sigma Planning Corp now owns 4,647 shares of the basic materials company’s stock worth $269,000 after buying an additional 62 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA grew its position in Nucor by 0.4% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock worth $1,249,000 after buying an additional 77 shares in the last quarter. 74.56% of the stock is currently owned by institutional investors and hedge funds.

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About Nucor

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).

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Earnings History and Estimates for Nucor (NYSE:NUE)

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