Nucor Corporation (NYSE:NUE) – Equities researchers at Jefferies Group lowered their Q3 2017 earnings per share estimates for shares of Nucor Corporation in a research report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings per share of $0.78 for the quarter, down from their previous estimate of $1.03. Jefferies Group currently has a “Buy” rating and a $68.00 target price on the stock. Jefferies Group also issued estimates for Nucor Corporation’s Q4 2017 earnings at $0.86 EPS, FY2017 earnings at $3.77 EPS and FY2018 earnings at $4.39 EPS.
Nucor Corporation (NYSE:NUE) last posted its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Jefferies Group Comments on Nucor Corporation’s Q3 2017 Earnings (NUE)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/28/jefferies-group-comments-on-nucor-corporations-q3-2017-earnings-nue.html.
NUE has been the topic of several other research reports. Longbow Research reissued a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a report on Thursday, July 27th. Credit Suisse Group decreased their price target on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. ValuEngine downgraded shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Nucor Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. Finally, BidaskClub downgraded shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Nucor Corporation has an average rating of “Hold” and an average price target of $67.13.
Shares of Nucor Corporation (NUE) opened at 57.28 on Thursday. Nucor Corporation has a 1-year low of $45.30 and a 1-year high of $68.00. The stock has a market capitalization of $18.30 billion, a PE ratio of 16.08 and a beta of 1.54. The firm has a 50-day moving average of $55.43 and a 200 day moving average of $57.49.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s payout ratio is currently 43.77%.
In other news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following the completion of the sale, the chairman now owns 361,847 shares in the company, valued at $21,772,333.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the sale, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,604 shares of company stock worth $1,351,495. Corporate insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NUE. Mckinley Capital Management LLC Delaware acquired a new position in shares of Nucor Corporation in the 2nd quarter worth approximately $100,000. Krilogy Financial LLC lifted its holdings in shares of Nucor Corporation by 4,594.6% in the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,700 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of Nucor Corporation by 60.2% in the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 660 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Nucor Corporation in the 2nd quarter worth approximately $109,000. Finally, Sun Life Financial INC lifted its holdings in shares of Nucor Corporation by 23,290.0% in the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 2,329 shares during the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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