Nucor Co. (NUE) Forecasted to Post Q4 2017 Earnings of $0.55 Per Share
Nucor Co. (NYSE:NUE) – Equities research analysts at Jefferies Group reduced their Q4 2017 EPS estimates for shares of Nucor in a research report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.78. Jefferies Group has a “Buy” rating and a $77.00 price objective on the stock.
NUE has been the topic of several other reports. Bank of America set a $75.00 price objective on shares of Nucor and gave the stock a “buy” rating in a research report on Monday. Credit Suisse Group decreased their price objective on shares of Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 28th. KeyCorp reiterated a “hold” rating on shares of Nucor in a research report on Tuesday, September 19th. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Cowen boosted their price objective on shares of Nucor from $57.00 to $63.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. One 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 company has an average rating of “Buy” and an average target price of $68.37.
Shares of Nucor (NYSE NUE) opened at $70.18 on Thursday. Nucor has a 1 year low of $51.67 and a 1 year high of $70.18. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. The company has a market cap of $22,310.00, a PE ratio of 19.55, a P/E/G ratio of 1.29 and a beta of 1.58.
Nucor (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be paid a $0.38 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. This represents a $1.52 annualized dividend and a yield of 2.17%. Nucor’s payout ratio is presently 42.34%.
In related news, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $57.94, for a total value of $1,018,759.02. Following the completion of the transaction, the insider now owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John J. Ferriola sold 15,131 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $60.40, for a total transaction of $913,912.40. Following the completion of the transaction, the chairman now directly owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. Insiders sold a total of 80,754 shares of company stock valued at $4,964,014 in the last three months. 0.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Nucor by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after purchasing an additional 319,596 shares during the last quarter. Northern Trust Corp raised its stake in Nucor by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after purchasing an additional 750,796 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Nucor by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after purchasing an additional 150,219 shares during the last quarter. Prudential PLC raised its stake in Nucor by 28.2% in the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after purchasing an additional 496,700 shares during the last quarter. Finally, Boston Partners raised its stake in Nucor by 3.7% in the 3rd quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after purchasing an additional 70,358 shares during the last quarter. 74.31% of the stock is owned by hedge funds and other institutional investors.
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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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