KeyCorp Weighs in on Nucor Co.’s FY2018 Earnings (NUE)

Nucor Co. (NYSE:NUE) – Stock analysts at KeyCorp reduced their FY2018 earnings estimates for Nucor in a research report issued on Sunday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $4.15 for the year, down from their previous forecast of $4.55. KeyCorp has a “Hold” rating on the stock.

A number of other brokerages also recently commented on NUE. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Credit Suisse Group upped their target price on shares of Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note 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 note on Friday, October 20th. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Jefferies Group restated a “buy” rating and issued a $77.00 target price on shares of Nucor in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $69.70.

Shares of Nucor (NYSE NUE) traded up $1.24 during mid-day trading on Wednesday, reaching $65.32. 506,792 shares of the company’s stock were exchanged, compared to its average volume of 3,129,545. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.19. The company has a market cap of $20,370.00, a P/E ratio of 15.63, a P/E/G ratio of 1.07 and a beta of 1.56. Nucor has a twelve month low of $51.67 and a twelve month high of $70.48.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, December 29th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is presently 37.07%.

In other news, EVP Robert J. Stratman sold 39,037 shares of the company’s 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 completion of the sale, the executive vice president now owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in NUE. Janus Henderson Group PLC lifted its position in Nucor by 429.3% during the second quarter. Janus Henderson Group PLC now owns 213,636 shares of the basic materials company’s stock valued at $12,363,000 after acquiring an additional 173,276 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in Nucor during the second quarter valued at approximately $372,000. Ameritas Investment Partners Inc. lifted its position in Nucor by 5.2% during the second quarter. Ameritas Investment Partners Inc. now owns 18,575 shares of the basic materials company’s stock valued at $1,074,000 after acquiring an additional 923 shares during the last quarter. Piedmont Investment Advisors LLC lifted its position in Nucor by 3.6% during the second quarter. Piedmont Investment Advisors LLC now owns 24,643 shares of the basic materials company’s stock valued at $1,426,000 after acquiring an additional 850 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Nucor during the second quarter valued at approximately $394,000. 74.10% of the stock is owned by hedge funds and other institutional investors.

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Nucor Company Profile

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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