Nucor (NYSE:NUE) Issues Q4 Earnings Guidance

Nucor (NYSE:NUE) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.55-0.65 for the period, compared to the consensus estimate of $0.89. Nucor also updated its Q4 2024 guidance to 0.550-0.650 EPS.

Nucor Price Performance

NYSE:NUE opened at $124.16 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $148.56 and a 200 day simple moving average of $150.99. Nucor has a 1-year low of $123.01 and a 1-year high of $203.00. The stock has a market capitalization of $29.15 billion, a PE ratio of 12.00 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.57 earnings per share. On average, research analysts expect that Nucor will post 8.48 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.77%. Nucor’s dividend payout ratio is currently 20.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.75.

Insider Buying and Selling at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is currently owned by corporate insiders.

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.