Nucor (NYSE:NUE) Updates Q4 2024 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.550-0.650 for the period, compared to the consensus EPS estimate of 0.860. The company issued revenue guidance of -. Nucor also updated its Q4 guidance to $0.55-0.65 EPS.

Nucor Stock Performance

Shares of NUE stock opened at $120.96 on Wednesday. Nucor has a 12 month low of $119.44 and a 12 month high of $203.00. The firm has a market capitalization of $28.40 billion, a PE ratio of 11.69 and a beta of 1.55. The firm has a fifty day simple moving average of $148.02 and a two-hundred day simple moving average of $150.65. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

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

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.82%. Nucor’s dividend payout ratio (DPR) is 20.87%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NUE shares. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets dropped their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Finally, UBS Group restated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.75.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by corporate insiders.

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.