Nucor (NYSE:NUE – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.550-0.650 for the period, compared to the consensus EPS estimate of 0.860. The company issued revenue guidance of -. Nucor also updated its Q4 guidance to $0.55-0.65 EPS.
Nucor Stock Performance
Shares of NUE stock opened at $120.96 on Wednesday. Nucor has a 12 month low of $119.44 and a 12 month high of $203.00. The firm has a market capitalization of $28.40 billion, a PE ratio of 11.69 and a beta of 1.55. The firm has a fifty day simple moving average of $148.02 and a two-hundred day simple moving average of $150.65. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.
Nucor (NYSE:NUE – Get Free Report) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.57 earnings per share. Analysts forecast that Nucor will post 8.48 EPS for the current fiscal year.
Nucor Increases Dividend
Analyst Upgrades and Downgrades
Several analysts have recently commented on NUE shares. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets dropped their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Finally, UBS Group restated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.75.
Read Our Latest Stock Report on NUE
Insider Activity at Nucor
In related news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by corporate insiders.
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.
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