Nucor (NYSE:NUE) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Nucor (NYSE:NUE) posted its earnings results on Monday. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09, Briefing.com reports. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the previous year, the company earned $4.57 earnings per share. The company’s revenue was down 15.2% compared to the same quarter last year.

Nucor Stock Down 6.5 %

Shares of NYSE NUE opened at $146.03 on Wednesday. Nucor has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 8.59 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $147.80 and its 200 day simple moving average is $159.52.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.48%. Nucor’s dividend payout ratio is 12.71%.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NUE. Bank of America cut their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. JPMorgan Chase & Co. decreased their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley dropped their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets decreased their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.43.

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.