Nucor Co. (NUE) to Post Q1 2018 Earnings of $1.09 Per Share, KeyCorp Forecasts

Nucor Co. (NYSE:NUE) – KeyCorp issued their Q1 2018 EPS estimates for shares of Nucor in a note issued to investors on Sunday. KeyCorp analyst P. Gibbs forecasts that the basic materials company will post earnings per share of $1.09 for the quarter. KeyCorp has a “Hold” rating on the stock.

A number of other research analysts have also recently commented on the stock. Morgan Stanley reduced their price target on shares of Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a research report on Tuesday, February 6th. Zacks Investment Research lowered Nucor from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Jefferies Group reissued a “buy” rating and set a $76.00 price objective on shares of Nucor in a research note on Wednesday, January 31st. BMO Capital Markets increased their price objective on Nucor to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group increased their price objective on Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.90.

Nucor (NUE) opened at $63.44 on Tuesday. Nucor has a 52-week low of $51.67 and a 52-week 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 $19,637.71, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.05 and a beta of 1.56.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 28.7% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in NUE. Independence Bank of Kentucky purchased a new stake in Nucor in the fourth quarter worth $100,000. Barrett Asset Management LLC purchased a new stake in Nucor in the fourth quarter worth $101,000. Cerebellum GP LLC purchased a new stake in Nucor in the fourth quarter worth $131,000. Benjamin F. Edwards & Company Inc. lifted its stake in Nucor by 791.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 2,373 shares during the period. Finally, Dupont Capital Management Corp purchased a new stake in Nucor in the fourth quarter worth $176,000. 74.10% of the stock is owned by institutional investors.

In related news, EVP Robert J. Stratman sold 39,037 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total value of $2,493,683.56. Following the completion of the sale, the executive vice president now owns 233,824 shares of the company’s stock, valued at $14,936,677.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, December 29th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is 36.72%.

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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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