Wall Street brokerages expect Nucor Co. (NYSE:NUE) to report $5.48 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Nucor’s earnings. The lowest sales estimate is $5.34 billion and the highest is $5.61 billion. Nucor reported sales of $4.82 billion in the same quarter last year, which would suggest a positive year over year growth rate of 13.7%. The business is scheduled to report its next earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Nucor will report full-year sales of $5.48 billion for the current year, with estimates ranging from $20.39 billion to $23.93 billion. For the next year, analysts forecast that the firm will post sales of $23.16 billion per share, with estimates ranging from $21.48 billion to $25.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Nucor.
Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS.
A number of equities analysts have recently weighed in on NUE shares. Zacks Investment Research cut Nucor from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Longbow Research upgraded Nucor from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Bank of America set a $75.00 price target on Nucor and gave the stock a “buy” rating in a report on Monday, January 8th. Finally, BMO Capital Markets raised their target price on Nucor to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $69.70.
Nucor (NYSE:NUE) opened at $66.18 on Friday. The firm has a market capitalization of $21,040.00, a price-to-earnings ratio of 18.64, a PEG ratio of 1.12 and a beta of 1.51. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Nucor has a twelve month low of $51.67 and a twelve month high of $70.48.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, March 28th. Nucor’s payout ratio is presently 42.82%.
In other news, Chairman John J. Ferriola sold 14,313 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total transaction of $917,749.56. Following the sale, the chairman now owns 333,775 shares of the company’s stock, valued at approximately $21,401,653. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James D. Frias sold 39,037 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total value of $2,666,617.47. Following the sale, the chief financial officer now directly owns 177,204 shares in the company, valued at approximately $12,104,805.24. The disclosure for this sale can be found here. Insiders sold a total of 95,387 shares of company stock valued at $6,285,411 in the last quarter. Company insiders own 0.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky acquired a new stake in shares of Nucor during the 4th quarter worth about $100,000. Barrett Asset Management LLC acquired a new stake in shares of Nucor during the 4th quarter worth about $101,000. Cerebellum GP LLC acquired a new stake in shares of Nucor during the 4th quarter worth about $131,000. Financial Gravity Companies Inc. acquired a new stake in shares of Nucor during the 4th quarter worth about $140,000. Finally, Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in shares of Nucor during the 4th quarter worth about $147,000. 80.16% of the stock is currently owned by institutional investors and hedge funds.
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Nucor 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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