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

by · The Cerbat Gem

Nucor (NYSE:NUE – Get Free Report) issued its earnings results on Monday. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04, Briefing.com reports. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 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% compared to the same quarter last year. During the same quarter last year, the firm earned $4.57 earnings per share.

Nucor Stock Down 1.3 %

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

Nucor Dividend Announcement

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 $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.38%. Nucor’s payout ratio is currently 12.71%.

Insider Activity at Nucor

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NUE shares. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Morgan Stanley cut their target price 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. decreased their price target on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, BMO Capital Markets cut their price objective 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. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $191.43.

View Our Latest Research Report on Nucor

Nucor Company Profile

(Get Free Report)

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.

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