Nucor (NYSE:NUE) Posts Earnings Results, Misses Estimates By $0.16 EPS

Nucor (NYSE:NUE) released its quarterly earnings results on Monday. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16), RTT News reports. The firm had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 19.67% and a net margin of 12.40%. Nucor’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.45 earnings per share. Nucor updated its Q2 guidance to below $3.46 EPS.

Nucor Price Performance

Shares of NYSE:NUE traded down $1.88 on Wednesday, reaching $172.76. 2,582,503 shares of the company were exchanged, compared to its average volume of 1,431,145. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. Nucor has a 1-year low of $129.79 and a 1-year high of $203.00. The firm has a market cap of $41.46 billion, a price-to-earnings ratio of 10.15 and a beta of 1.61. The company has a 50-day moving average of $191.20 and a 200-day moving average of $174.18.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.25%. Nucor’s dividend payout ratio is currently 12.71%.

Insider Activity at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,151 shares of company stock valued at $7,308,683. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NUE shares. BMO Capital Markets reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, UBS Group assumed coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $193.14.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.