Nucor (NUE) Releases Q1 Earnings Guidance

Nucor (NYSE:NUE) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.07-1.12 for the period, compared to the Thomson Reuters consensus estimate of $1.01.

Several research analysts have weighed in on the company. Credit Suisse Group lifted their target price on Nucor from $67.00 to $73.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. BMO Capital Markets lifted their target price on Nucor to $72.00 and gave the company a market perform rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Bank of America set a $75.00 price target on Nucor and gave the company a buy rating in a research note on Monday, January 8th. Morgan Stanley decreased their price target on Nucor from $70.00 to $68.00 and set a hold rating on the stock in a research note on Tuesday, February 6th. Finally, ValuEngine upgraded Nucor from a hold rating to a buy rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $69.54.

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NUE stock traded down $2.41 during midday trading on Friday, hitting $60.69. 1,899,102 shares of the stock were exchanged, compared to its average volume of 2,382,658. The stock has a market cap of $19,295.60, a PE ratio of 17.29, a P/E/G ratio of 0.95 and a beta of 1.54. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.42.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.10. The firm 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%. Nucor’s revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. equities research analysts predict that Nucor will post 5.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. Nucor’s dividend payout ratio (DPR) is 43.30%.

In other news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the business’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $65.11, for a total value of $520,880.00. Following the completion of the transaction, the executive vice president now directly owns 78,381 shares of the company’s stock, valued at $5,103,386.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James D. Frias sold 39,037 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 177,204 shares of the company’s stock, valued at $12,104,805.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,350 shares of company stock valued at $4,312,607. Insiders own 0.70% of the company’s stock.

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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).

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