Wall Street analysts predict that Nucor Corporation (NYSE:NUE) will announce $4.98 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Nucor Corporation’s earnings. The lowest sales estimate is $4.76 billion and the highest is $5.42 billion. Nucor Corporation posted sales of $3.96 billion in the same quarter last year, which suggests a positive year over year growth rate of 25.8%. The business is expected to report its next earnings report on Tuesday, January 30th.
On average, analysts expect that Nucor Corporation will report full-year sales of $4.98 billion for the current fiscal year, with estimates ranging from $19.92 billion to $20.58 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $21.63 billion per share, with estimates ranging from $20.39 billion to $23.40 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Nucor Corporation.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS.
Several brokerages have recently commented on NUE. Zacks Investment Research upgraded Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. BMO Capital Markets set a $62.00 target price on Nucor Corporation and gave the company a “hold” rating in a research note on Friday. Longbow Research restated a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a research note on Thursday, July 27th. Credit Suisse Group reduced their target price on Nucor Corporation from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 28th. Finally, Bank of America Corporation cut their price target on Nucor Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.32.
In related news, insider Ladd R. Hall sold 17,583 shares of Nucor Corporation stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total value of $1,018,759.02. Following the sale, the insider now owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the sale, the director now directly owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock worth $2,608,231 in the last 90 days. Company insiders own 0.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Jennison Associates LLC raised its holdings in shares of Nucor Corporation by 1.4% in the 2nd quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 99 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Nucor Corporation by 7.1% in the 2nd quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock worth $2,083,000 after purchasing an additional 2,380 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Nucor Corporation by 8.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock worth $2,676,000 after purchasing an additional 3,792 shares during the period. Swiss National Bank raised its holdings in shares of Nucor Corporation by 3.1% in the 2nd quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock worth $67,335,000 after purchasing an additional 35,100 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Nucor Corporation in the 2nd quarter worth approximately $3,598,000. 74.59% of the stock is currently owned by institutional investors.
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Shares of Nucor Corporation (NYSE:NUE) traded up $0.01 on Wednesday, hitting $54.80. The stock had a trading volume of 1,303,666 shares, compared to its average volume of 2,690,896. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The firm has a market cap of $17,420.00, a P/E ratio of 16.14, a PEG ratio of 1.24 and a beta of 1.59. Nucor Corporation has a 12 month low of $51.67 and a 12 month high of $68.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were paid a $0.3775 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.76%. Nucor Corporation’s payout ratio is presently 42.06%.
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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