Nucor (NYSE:NUE) Updates Q3 2021 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its third quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.300-$7.400 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.400. The company issued revenue guidance of -.

Nucor stock opened at $100.34 on Thursday. The stock has a market cap of $29.47 billion, a P/E ratio of 9.96 and a beta of 1.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.11 and a quick ratio of 1.76. Nucor has a 1 year low of $46.00 and a 1 year high of $128.81. The firm’s 50 day moving average price is $109.60 and its 200-day moving average price is $99.20.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 22nd. The basic materials company reported $5.04 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.23. Nucor had a net margin of 11.70% and a return on equity of 26.26%. The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $8.24 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Nucor’s quarterly revenue was up 55.6% on a year-over-year basis. As a group, equities analysts expect that Nucor will post 19.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 10th. Shareholders of record on Thursday, September 30th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.61%. The ex-dividend date is Wednesday, September 29th. Nucor’s payout ratio is 48.50%.

A number of analysts have recently issued reports on NUE shares. Seaport Global Securities started coverage on shares of Nucor in a research note on Monday, August 23rd. They set a buy rating and a $130.00 target price for the company. Credit Suisse Group reissued a buy rating and set a $142.00 target price on shares of Nucor in a research note on Friday, September 17th. The Goldman Sachs Group downgraded Nucor from a buy rating to a neutral rating and decreased their price objective for the company from $123.00 to $108.00 in a report on Wednesday, October 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Nucor from $100.00 to $130.00 and gave the company a hold rating in a report on Wednesday, September 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. assumed coverage on Nucor in a report on Wednesday, June 16th. They issued a neutral rating and a $114.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of Hold and an average target price of $102.25.

In other news, CFO James D. Frias sold 5,736 shares of the business’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $96.63, for a total value of $554,269.68. Following the transaction, the chief financial officer now owns 313,385 shares of the company’s stock, valued at $30,282,392.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael D. Keller sold 3,431 shares of the business’s stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $127.40, for a total value of $437,109.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 139,814 shares of company stock worth $15,115,839. 0.71% of the stock is currently owned by corporate insiders.

About Nucor

Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises of carbon and alloy steel in sheet, bars; structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments.

See Also: Intrinsic Value

Earnings History and Estimates for Nucor (NYSE:NUE)

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