Nucor (NUE) to Release Earnings on Monday

Nucor (NYSE:NUE) is set to post its quarterly 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.Individual interested in participating in the company’s earnings conference call can do so using this link.

Nucor (NYSE:NUE) last issued 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 net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the prior year, the company earned $5.81 EPS. The firm’s revenue was down 15.2% on a year-over-year basis. On average, analysts expect Nucor to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Nucor Stock Up 0.1 %

Shares of NYSE NUE opened at $158.24 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The firm’s 50-day moving average is $147.44 and its two-hundred day moving average is $160.49. Nucor has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a market capitalization of $37.94 billion, a PE ratio of 9.31 and a beta of 1.55.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s payout ratio is 12.71%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

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.