Nucor (NYSE:NUE) Releases Quarterly Earnings Results, Misses Expectations By $0.16 EPS

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

Nucor Trading Down 8.9 %

Shares of Nucor stock opened at $174.64 on Wednesday. The company has a market capitalization of $41.91 billion, a P/E ratio of 10.27 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The company has a fifty day moving average of $191.20 and a 200 day moving average of $174.18. Nucor has a fifty-two week low of $129.79 and a fifty-two week high of $203.00.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 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 1.24%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is 12.71%.

Analyst Ratings Changes

NUE has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group initiated coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $192.83.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,151 shares of company stock valued at $7,308,683. Company insiders own 0.64% of the company’s stock.

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.