Nucor (NUE) Scheduled to Post Quarterly Earnings on Monday

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

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.81 EPS. On average, analysts expect Nucor to post $9 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Nucor Stock Up 0.7 %

NUE stock opened at $151.91 on Monday. 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 stock has a market capitalization of $36.42 billion, a price-to-earnings ratio of 8.94 and a beta of 1.55. The business’s fifty day moving average price is $146.67 and its two-hundred day moving average price is $161.75. Nucor has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor Announces Dividend

The company also recently disclosed 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 1.42%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred 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 directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NUE. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets decreased their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley decreased their target price 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 decreased their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. decreased their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.