Nucor Corporation (NYSE:NUE) – Investment analysts at KeyCorp dropped their FY2018 earnings per share (EPS) estimates for Nucor Corporation in a research note issued to investors on Thursday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $3.80 for the year, down from their prior estimate of $4.20. KeyCorp currently has a “Overweight” rating and a $66.00 price objective on the stock.
Nucor Corporation (NYSE:NUE) last released its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by $0.06. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the firm posted $0.73 EPS. The company’s revenue was up 21.9% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “FY2018 EPS Estimates for Nucor Corporation Cut by KeyCorp (NUE)” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://sportsperspectives.com/2017/08/22/fy2018-eps-estimates-for-nucor-corporation-cut-by-keycorp-nue.html.
Other analysts also recently issued research reports about the stock. Morgan Stanley reaffirmed a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. Cowen and Company reissued a “market perform” rating and issued a $63.00 price objective (up previously from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Credit Suisse Group raised shares of Nucor Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $68.00 in a research note on Wednesday, May 24th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Nucor Corporation in a research note on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Nucor Corporation has an average rating of “Buy” and a consensus price target of $68.76.
Nucor Corporation (NYSE:NUE) traded up 1.58% during midday trading on Monday, hitting $54.58. The stock had a trading volume of 865,027 shares. The company has a market capitalization of $17.43 billion, a PE ratio of 15.32 and a beta of 1.51. The stock’s 50-day moving average is $57.97 and its 200-day moving average is $59.33. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, June 30th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Wednesday, June 28th. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.77%.
In other news, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the sale, the insider now directly owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the sale, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock worth $1,213,595 over the last three months. Corporate insiders own 0.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Nucor Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock worth $1,479,954,000 after buying an additional 319,596 shares during the period. BlackRock Inc. raised its stake in shares of Nucor Corporation by 1,900.5% in the first quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock worth $1,293,202,000 after buying an additional 20,571,970 shares during the period. Northern Trust Corp raised its stake in shares of Nucor Corporation by 15.0% in the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after buying an additional 750,796 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Nucor Corporation by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock worth $258,776,000 after buying an additional 352,694 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Nucor Corporation by 11.7% in the first quarter. Geode Capital Management LLC now owns 3,715,181 shares of the basic materials company’s stock worth $221,600,000 after buying an additional 389,241 shares during the period. 75.99% of the stock is currently owned by hedge funds and other institutional investors.
About Nucor Corporation
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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