Nucor (NYSE:NUE) Releases Earnings Results, Beats Estimates By $0.37 EPS

Nucor (NYSE:NUE) released its quarterly earnings data on Monday. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37, Briefing.com reports. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.68%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.81 EPS. Nucor updated its Q3 guidance to below $2.68 EPS.

Nucor Stock Down 4.2 %

NYSE NUE opened at $154.82 on Thursday. Nucor has a twelve month low of $140.07 and a twelve month high of $203.00. The stock has a market cap of $37.12 billion, a PE ratio of 9.11 and a beta of 1.57. The firm has a 50-day simple moving average of $161.02 and a 200 day simple moving average of $175.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio is currently 12.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Bank of America decreased their target price on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets dropped their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Hold” and an average target price of $191.29.

About Nucor

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.