Nucor (NYSE:NUE) Releases Earnings Results

Nucor (NYSE:NUE) announced its quarterly earnings data on Monday. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16), RTT News reports. Nucor had a net margin of 12.40% and a return on equity of 19.67%. The firm had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the prior year, the company posted $4.45 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Nucor updated its Q2 guidance to below $3.46 EPS.

Nucor Stock Performance

Shares of NUE stock opened at $174.64 on Wednesday. The stock has a market capitalization of $41.91 billion, a PE ratio of 10.27 and a beta of 1.61. Nucor has a 52-week low of $129.79 and a 52-week high of $203.00. The stock’s 50-day moving average price is $191.20 and its 200 day moving average price is $174.18. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.24%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock worth $7,308,683 in the last quarter. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and increased their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, UBS Group began coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $192.83.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.