Brokerages Anticipate Nucor Co. (NUE) Will Announce Earnings of $1.07 Per Share

Brokerages forecast that Nucor Co. (NYSE:NUE) will report $1.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Nucor’s earnings. The lowest EPS estimate is $0.89 and the highest is $1.31. Nucor reported earnings of $1.11 per share during the same quarter last year, which would suggest a negative year over year growth rate of 3.6%. The firm is expected to issue its next quarterly earnings report on Thursday, April 19th.

According to Zacks, analysts expect that Nucor will report full-year earnings of $4.92 per share for the current financial year, with EPS estimates ranging from $4.49 to $5.70. For the next fiscal year, analysts anticipate that the company will post earnings of $5.31 per share, with EPS estimates ranging from $4.55 to $5.98. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Nucor.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year.

NUE has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Credit Suisse Group lifted their target price on shares of Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Citigroup set a $66.00 target price on shares of Nucor and gave the stock a “buy” rating in a research report on Friday, October 20th. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Jefferies Group reissued a “buy” rating and set a $77.00 target price on shares of Nucor in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $69.90.

In related news, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total value of $2,493,683.56. Following the sale, the executive vice president now owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Krilogy Financial LLC grew its stake in Nucor by 4,594.6% in the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,700 shares in the last quarter. Barrett Asset Management LLC purchased a new position in Nucor in the 4th quarter valued at approximately $101,000. Cerebellum GP LLC purchased a new position in Nucor in the 4th quarter valued at approximately $131,000. Benjamin F. Edwards & Company Inc. grew its stake in Nucor by 791.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after buying an additional 2,373 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new position in Nucor in the 4th quarter valued at approximately $176,000. 74.33% of the stock is currently owned by institutional investors.

Nucor (NYSE:NUE) traded down $1.63 during trading on Thursday, hitting $61.29. 1,519,533 shares of the company’s stock traded hands, compared to its average volume of 3,156,792. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.42. The company has a market cap of $19,560.00, a PE ratio of 15.00, a P/E/G ratio of 1.06 and a beta of 1.56.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Thursday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is 37.07%.

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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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