Nucor Co. Forecasted to Earn Q4 2024 Earnings of $1.05 Per Share (NYSE:NUE)

Nucor Co. (NYSE:NUE) – Analysts at Seaport Res Ptn reduced their Q4 2024 EPS estimates for shares of Nucor in a research note issued to investors on Tuesday, September 17th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will earn $1.05 per share for the quarter, down from their prior forecast of $1.40. The consensus estimate for Nucor’s current full-year earnings is $9.95 per share. Seaport Res Ptn also issued estimates for Nucor’s Q2 2025 earnings at $3.62 EPS and FY2025 earnings at $12.18 EPS.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.81 EPS.

A number of other equities research analysts have also issued reports on NUE. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $170.00 to $174.00 in a research note on Monday, September 9th. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday. Bank of America dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley dropped their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Nucor Stock Performance

Shares of Nucor stock opened at $146.31 on Thursday. The firm has a market cap of $35.08 billion, a PE ratio of 8.61 and a beta of 1.55. The firm’s 50-day simple moving average is $149.66 and its 200-day simple moving average is $166.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. Nucor has a 1 year low of $133.42 and a 1 year high of $203.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Nucor by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after acquiring an additional 84,558 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after acquiring an additional 67,974 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Nucor by 6.7% in the fourth quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock valued at $237,949,000 after acquiring an additional 85,475 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Nucor by 6.5% during the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after buying an additional 70,917 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.