Nucor (NUE) Set to Announce Quarterly Earnings on Monday

Nucor (NYSE:NUE) is set to announce its earnings results after the market closes on Monday, October 21st. Analysts expect Nucor to post earnings of $1.45 per share for the quarter. Nucor has set its Q3 guidance at below $2.68 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the firm earned $5.81 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, analysts expect Nucor to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Nucor Trading Up 0.1 %

NYSE:NUE opened at $158.24 on Friday. The stock has a fifty day simple moving average of $147.44 and a 200 day simple moving average of $160.49. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $37.94 billion, a price-to-earnings ratio of 9.31 and a beta of 1.55. Nucor has a 1-year low of $133.42 and a 1-year high of $203.00.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. Nucor’s payout ratio is currently 12.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley lowered their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Bank of America lowered their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.43.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

About Nucor

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.