Analysts Set Expectations for Nucor Co.’s FY2018 Earnings (NUE)

Nucor Co. (NYSE:NUE) – Analysts at KeyCorp increased their FY2018 earnings per share (EPS) estimates for shares of Nucor in a research note issued to investors on Tuesday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $3.83 per share for the year, up from their previous forecast of $3.75. KeyCorp has a “Hold” rating on the stock.

A number of other equities research analysts have also weighed in on NUE. Credit Suisse Group boosted their price objective on shares of Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Bank of America restated a “buy” rating and issued a $73.00 price objective on shares of Nucor in a report on Wednesday, September 6th. Citigroup set a $66.00 price objective on shares of Nucor and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Macquarie started coverage on shares of Nucor in a report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Nucor presently has a consensus rating of “Buy” and a consensus price target of $67.32.

Shares of Nucor (NUE) opened at $60.17 on Friday. Nucor has a 1 year low of $51.67 and a 1 year high of $66.37. The stock has a market cap of $18,626.74, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 1.32 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11.

Nucor (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business posted $0.88 earnings per share. Nucor’s revenue for the quarter was up 20.5% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware purchased a new position in Nucor during the 2nd quarter valued at $100,000. Krilogy Financial LLC increased its position in Nucor by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 1,700 shares during the period. Fiduciary Trust Co. purchased a new position in Nucor during the 2nd quarter valued at $109,000. Sun Life Financial INC increased its position in Nucor by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 2,329 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Nucor by 791.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,373 shares during the period. 74.55% of the stock is currently owned by institutional investors.

In related news, Director Victoria F. Haynes sold 2,500 shares of Nucor stock in a transaction 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 transaction, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John J. Ferriola sold 15,131 shares of Nucor stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total transaction of $913,912.40. Following the completion of the transaction, the chairman now directly owns 349,506 shares in the company, valued at $21,110,162.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,217 shares of company stock worth $2,608,231. 0.70% of the stock is owned by insiders.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.53%. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. Nucor’s payout ratio is presently 43.90%.

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About Nucor

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 and Estimates for Nucor (NYSE:NUE)

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