Nucor (NYSE:NUE) Issues Earnings Results, Beats Estimates By $0.04 EPS

Nucor (NYSE:NUE) announced its quarterly earnings results on Monday. The basic materials company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04, Briefing.com reports. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.57 earnings per share.

Nucor Trading Down 1.3 %

Shares of NUE stock opened at $156.11 on Tuesday. The stock has a 50 day simple moving average of $147.74 and a 200 day simple moving average of $159.90. Nucor has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a market cap of $37.43 billion, a P/E ratio of 9.18 and a beta of 1.55.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given 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 1.38%. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’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 transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley cut their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Bank of America reduced their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, 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. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

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.