Nucor Co. (NUE) Expected to Post Earnings of $1.10 Per Share

Brokerages expect Nucor Co. (NYSE:NUE) to report earnings of $1.10 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Nucor’s earnings, with the lowest EPS estimate coming in at $0.89 and the highest estimate coming in at $1.30. Nucor reported earnings per share of $1.11 during the same quarter last year, which indicates a negative year-over-year growth rate of 0.9%. The company is scheduled to announce its next earnings report before the market opens on Thursday, April 19th.

On average, analysts expect that Nucor will report full year earnings of $5.56 per share for the current year, with EPS estimates ranging from $4.88 to $6.20. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.49 per share, with EPS estimates ranging from $4.10 to $5.98. Zacks’ EPS averages are an average based on a survey of analysts that cover Nucor.

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Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year.

Several research firms have recently issued reports on NUE. Credit Suisse Group increased their price target on Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets increased their price target on Nucor to $72.00 and gave the stock 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 stock 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 for the company in a research note on Tuesday, February 6th. Finally, ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $69.32.

In other news, Chairman John J. Ferriola sold 14,313 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total transaction of $917,749.56. Following the completion of the sale, the chairman now directly owns 333,775 shares of the company’s stock, valued at $21,401,653. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James D. Frias sold 39,037 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were 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 of the company’s stock, valued at $12,104,805.24. The disclosure for this sale can be found here. Insiders have sold 64,350 shares of company stock valued at $4,312,607 in the last ninety days. Company insiders own 0.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Nucor by 3.2% during the fourth quarter. BlackRock Inc. now owns 22,382,353 shares of the basic materials company’s stock valued at $1,423,070,000 after purchasing an additional 702,355 shares during the last quarter. Luminus Management LLC lifted its holdings in shares of Nucor by 303.4% during the fourth quarter. Luminus Management LLC now owns 1,654,324 shares of the basic materials company’s stock valued at $105,182,000 after purchasing an additional 1,244,185 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Nucor by 5.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,229,908 shares of the basic materials company’s stock valued at $78,198,000 after purchasing an additional 61,563 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Nucor by 24.8% during the fourth quarter. Guggenheim Capital LLC now owns 1,118,852 shares of the basic materials company’s stock valued at $71,136,000 after purchasing an additional 222,246 shares during the last quarter. Finally, CI Investments Inc. lifted its holdings in shares of Nucor by 0.6% during the fourth quarter. CI Investments Inc. now owns 991,906 shares of the basic materials company’s stock valued at $63,065,000 after purchasing an additional 6,000 shares during the last quarter. 80.08% of the stock is owned by institutional investors and hedge funds.

NYSE:NUE opened at $62.46 on Tuesday. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The firm has a market capitalization of $19,594.44, a PE ratio of 17.79, a price-to-earnings-growth ratio of 0.92 and a beta of 1.53. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 annualized dividend and a yield of 2.43%. Nucor’s dividend payout ratio is currently 43.30%.

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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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