$1.06 EPS Expected for Nucor Co. (NYSE:NUE) This Quarter

Wall Street analysts expect Nucor Co. (NYSE:NUE) to announce $1.06 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Nucor’s earnings, with the lowest EPS estimate coming in at $0.96 and the highest estimate coming in at $1.20. Nucor reported earnings per share of $2.33 during the same quarter last year, which indicates a negative year-over-year growth rate of 54.5%. The company is scheduled to report its next earnings report on Thursday, October 17th.

According to Zacks, analysts expect that Nucor will report full year earnings of $4.89 per share for the current year, with EPS estimates ranging from $4.65 to $5.31. For the next financial year, analysts expect that the firm will report earnings of $4.43 per share, with EPS estimates ranging from $3.60 to $5.93. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Nucor.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the business earned $2.07 EPS. Nucor’s revenue was down 8.7% compared to the same quarter last year.

A number of research firms have weighed in on NUE. Bank of America downgraded Nucor from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $68.00 to $50.00 in a report on Friday, May 31st. KeyCorp lowered their price objective on Nucor from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Goldman Sachs Group lowered their price objective on Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Deutsche Bank cut Nucor from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. Finally, ValuEngine lowered Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Nucor presently has an average rating of “Hold” and an average target price of $62.90.

NYSE:NUE traded down $0.12 during mid-day trading on Thursday, reaching $50.63. 52,368 shares of the company’s stock traded hands, compared to its average volume of 2,181,386. Nucor has a 12-month low of $47.13 and a 12-month high of $66.03. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.90 and a beta of 1.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. The firm’s 50 day moving average is $54.77.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. Nucor’s dividend payout ratio is currently 21.00%.

In related news, EVP Leon J. Topalian sold 5,798 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total transaction of $327,413.06. Following the completion of the sale, the executive vice president now owns 93,559 shares of the company’s stock, valued at approximately $5,283,276.73. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the sale, the insider now directly owns 292,776 shares of the company’s stock, valued at approximately $16,658,954.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,203 shares of company stock valued at $3,465,601. 0.96% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Nucor by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,772,938 shares of the basic materials company’s stock valued at $247,306,000 after acquiring an additional 82,259 shares during the last quarter. Geode Capital Management LLC grew its position in Nucor by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock worth $258,607,000 after acquiring an additional 506,988 shares in the last quarter. Pinnacle Bank purchased a new position in Nucor in the fourth quarter worth about $26,000. Machina Capital S.A.S. purchased a new position in Nucor in the fourth quarter worth about $401,000. Finally, Deutsche Bank AG grew its position in Nucor by 57.4% in the fourth quarter. Deutsche Bank AG now owns 2,039,090 shares of the basic materials company’s stock worth $105,638,000 after acquiring an additional 743,304 shares in the last quarter. 76.00% of the stock is owned by institutional investors.

About Nucor

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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