Nucor (NYSE:NUE) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Nucor (NYSE:NUE) released its quarterly earnings data on Monday. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09, Briefing.com reports. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.57 EPS.

Nucor Stock Down 6.5 %

NYSE:NUE opened at $146.03 on Wednesday. The business’s fifty day moving average price is $147.80 and its 200 day moving average price is $159.52. The firm has a market capitalization of $35.01 billion, a price-to-earnings ratio of 8.59 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor has a 1-year low of $133.42 and a 1-year high of $203.00.

Nucor Dividend Announcement

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

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Bank of America dropped their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

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.