Nucor Co. (NUE) Expected to Announce Earnings of $1.07 Per Share

Equities research analysts predict that Nucor Co. (NYSE:NUE) will post earnings per share of $1.07 for the current quarter, Zacks reports. Three analysts have provided estimates for Nucor’s earnings, with estimates ranging from $0.89 to $1.31. Nucor reported earnings per share of $1.11 in the same quarter last year, which suggests a negative year over year growth rate of 3.6%. The business is scheduled to announce its next quarterly earnings results on Thursday, April 19th.

According to Zacks, analysts expect that Nucor will report full year earnings of $4.92 per share for the current fiscal year, with EPS estimates ranging from $4.49 to $5.70. For the next year, analysts anticipate that the firm will report earnings of $5.31 per share, with EPS estimates ranging from $4.55 to $5.98. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Nucor.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company earned $0.50 EPS. Nucor’s quarterly revenue was up 28.7% compared to the same quarter last year.

NUE has been the subject of a number of research analyst reports. Zacks Investment Research raised Nucor from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Credit Suisse Group raised their price target on Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Citigroup set a $66.00 price target on Nucor and gave the stock a “buy” rating in a research note on Friday, October 20th. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Jefferies Group reissued a “buy” rating and set a $77.00 price target on shares of Nucor in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Nucor currently has an average rating of “Buy” and a consensus price target of $69.90.

Shares of Nucor (NUE) opened at $61.77 on Thursday. Nucor has a one year low of $51.67 and a one year high of $70.48. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $19,637.73, a P/E ratio of 14.92, a P/E/G ratio of 1.05 and a beta of 1.56.

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, December 29th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a yield of 2.46%. Nucor’s payout ratio is 36.72%.

In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the sale, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NUE. CI Investments Inc. bought a new stake in Nucor during the 3rd quarter valued at $55,250,000. Alps Advisors Inc. raised its position in Nucor by 9,051.7% during the 4th quarter. Alps Advisors Inc. now owns 805,075 shares of the basic materials company’s stock valued at $51,187,000 after purchasing an additional 796,278 shares in the last quarter. BlackRock Inc. raised its position in Nucor by 3.2% during the 4th quarter. BlackRock Inc. now owns 22,382,353 shares of the basic materials company’s stock valued at $1,423,070,000 after purchasing an additional 702,355 shares in the last quarter. Point72 Asset Management L.P. raised its position in Nucor by 384.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 509,772 shares of the basic materials company’s stock valued at $28,568,000 after purchasing an additional 404,622 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Nucor by 120.6% during the 3rd quarter. Stifel Financial Corp now owns 594,283 shares of the basic materials company’s stock valued at $33,356,000 after purchasing an additional 324,926 shares in the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.

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About Nucor

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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