Jefferies Group Equities Analysts Reduce Earnings Estimates for Nucor Corp. (NUE)
Nucor Corp. (NYSE:NUE) – Jefferies Group cut their Q3 2016 EPS estimates for shares of Nucor Corp. in a research report issued on Thursday. Jefferies Group analyst S. Rosenfeld now forecasts that the firm will post earnings of $0.90 per share for the quarter, down from their previous estimate of $1.17. Jefferies Group currently has a “Buy” rating and a $55.00 target price on the stock. Jefferies Group also issued estimates for Nucor Corp.’s Q4 2016 earnings at $0.38 EPS and FY2016 earnings at $2.23 EPS.
Nucor Corp. (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. The company earned $4.25 billion during the quarter, compared to analysts’ expectations of $4.49 billion.
Several other brokerages also recently weighed in on NUE. BMO Capital Markets set a $51.00 target price on shares of Nucor Corp. and gave the stock a “hold” rating in a report on Wednesday, September 14th. Citigroup Inc. initiated coverage on shares of Nucor Corp. in a report on Monday, August 22nd. They issued a “neutral” rating and a $55.00 target price for the company. Cowen and Company upped their target price on shares of Nucor Corp. from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Tuesday, July 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $59.50 target price on shares of Nucor Corp. in a report on Friday, July 22nd. Finally, Berenberg Bank downgraded shares of Nucor Corp. from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a report on Friday, July 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $53.14.
Nucor Corp. (NYSE:NUE) opened at 45.74 on Monday. The stock’s 50 day moving average price is $50.79 and its 200-day moving average price is $49.22. The firm has a market cap of $14.56 billion, a PE ratio of 31.35 and a beta of 1.48. Nucor Corp. has a 12-month low of $33.90 and a 12-month high of $57.08.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, September 28th. Nucor Corp.’s dividend payout ratio (DPR) is presently 102.04%.
In other news, CFO James D. Frias sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $53.14, for a total transaction of $478,260.00. Following the transaction, the chief financial officer now directly owns 156,065 shares of the company’s stock, valued at $8,293,294.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James R. Darsey sold 71,465 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the transaction, the insider now directly owns 234,135 shares in the company, valued at $12,280,380.75. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Williams Jones & Associates LLC raised its position in shares of Nucor Corp. by 18,811.7% in the second quarter. Williams Jones & Associates LLC now owns 56,735 shares of the company’s stock worth $2,803,000 after buying an additional 56,435 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Nucor Corp. during the second quarter worth approximately $634,000. Kentucky Retirement Systems bought a new position in shares of Nucor Corp. during the second quarter worth approximately $1,336,000. Mason Street Advisors LLC bought a new position in shares of Nucor Corp. during the second quarter worth approximately $2,116,000. Finally, Front Street Capital Management Inc. bought a new position in shares of Nucor Corp. during the second quarter worth approximately $6,175,000. 78.07% of the stock is currently owned by institutional investors and hedge funds.
Nucor Corp. Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
Receive News & Ratings for Nucor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.