Nucor (NUE) Releases Q4 Earnings Guidance
Nucor (NYSE:NUE) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.50-0.55 for the period, compared to the Thomson Reuters consensus estimate of $0.76.
Shares of Nucor (NUE) opened at $59.54 on Friday. Nucor has a 12-month low of $51.67 and a 12-month high of $66.00. The company has a market capitalization of $19,663.15, a PE ratio of 18.19, a P/E/G ratio of 1.40 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12.
Nucor (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. equities analysts anticipate that Nucor will post 3.69 earnings per share for the current fiscal year.
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 given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.55%. This is a positive change from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. Nucor’s payout ratio is presently 43.90%.
A number of analysts recently commented on NUE shares. Macquarie started coverage on Nucor in a research report on Wednesday, September 6th. They issued a neutral rating and a $57.00 target price for the company. ValuEngine downgraded Nucor from a buy rating to a hold rating in a research note on Friday, September 1st. Jefferies Group set a $68.00 price target on Nucor and gave the company a buy rating in a research note on Monday, August 21st. Credit Suisse Group lifted their price target on Nucor from $63.00 to $67.00 and gave the company an outperform rating in a research note on Friday, October 20th. Finally, Cowen lifted their price target on Nucor from $57.00 to $63.00 and gave the company a market perform rating in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Nucor has an average rating of Buy and an average target price of $66.80.
In other news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the transaction, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was 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 in the company, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock worth $2,608,231 in the last 90 days. Company insiders own 0.70% of the company’s stock.
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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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