Nucor (NYSE:NUE) Updates Q2 Earnings Guidance

Nucor (NYSE:NUE) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of below $3.46 for the period, compared to the consensus earnings per share estimate of $3.63.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NUE. StockNews.com upgraded Nucor from a hold rating to a buy rating in a research note on Wednesday, April 10th. UBS Group initiated coverage on Nucor in a research report on Tuesday, January 16th. They issued a buy rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Nucor from $180.00 to $195.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Finally, Citigroup raised Nucor from a neutral rating to a buy rating and upped their price objective for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Nucor currently has an average rating of Moderate Buy and an average target price of $192.83.

Nucor Price Performance

NYSE NUE opened at $191.74 on Tuesday. The business’s fifty day moving average price is $191.30 and its 200-day moving average price is $174.06. The stock has a market capitalization of $46.01 billion, a price-to-earnings ratio of 10.66 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. Nucor has a 1-year low of $129.79 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.60 by ($0.14). The firm had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.45 earnings per share. On average, equities analysts predict that Nucor will post 12.93 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.13%. Nucor’s dividend payout ratio (DPR) is 12.01%.

Insider Transactions at Nucor

In other news, EVP Douglas J. Jellison sold 19,506 shares of the company’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 completion of the sale, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the sale, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the 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 completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock worth $7,308,683 in the last three months. Corporate insiders own 0.64% of the company’s stock.

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.