Nucor Corporation (NYSE:NUE) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Nucor Corporation (NYSE:NUE) announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01, MarketWatch Earnings reports. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor Corporation had a return on equity of 12.77% and a net margin of 5.80%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS.

Nucor Corporation (NUE) traded down 0.40% during mid-day trading on Friday, hitting $59.49. The company’s stock had a trading volume of 2,455,723 shares. Nucor Corporation has a 12-month low of $46.61 and a 12-month high of $68.00. The firm’s 50-day moving average is $55.99 and its 200-day moving average is $57.46. The company has a market cap of $19.00 billion, a P/E ratio of 16.70 and a beta of 1.54.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s payout ratio is 43.90%.

In other Nucor Corporation news, Chairman John J. Ferriola sold 15,131 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $60.40, for a total transaction of $913,912.40. Following the transaction, the chairman now directly owns 349,506 shares in the company, valued at $21,110,162.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the transaction, the director now owns 33,573 shares in the company, valued at $1,851,886.68. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and republished in violation of U.S. and international copyright and trademark law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/28/nucor-corporation-nue-announces-earnings-results-beats-estimates-by-0-06-eps.html.

Several equities analysts have recently commented on NUE shares. Jefferies Group LLC reiterated a “buy” rating on shares of Nucor Corporation in a research report on Friday, June 30th. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Berenberg Bank restated a “buy” rating and set a $77.50 price target on shares of Nucor Corporation in a research report on Wednesday, July 19th. Zacks Investment Research lowered Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Cowen and Company restated a “market perform” rating and set a $63.00 price target (up from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Nucor Corporation presently has a consensus rating of “Hold” and a consensus price target of $67.32.

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).

Earnings History for Nucor Corporation (NYSE:NUE)

Receive News & Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply