Zacks Research Has Positive Estimate for Nucor Q4 Earnings

Nucor Co. (NYSE:NUE) – Equities researchers at Zacks Research lifted their Q4 2024 earnings estimates for Nucor in a research note issued to investors on Monday, November 11th. Zacks Research analyst R. Department now expects that the basic materials company will post earnings of $1.01 per share for the quarter, up from their prior estimate of $1.00. The consensus estimate for Nucor’s current full-year earnings is $8.52 per share. Zacks Research also issued estimates for Nucor’s Q1 2025 earnings at $2.20 EPS, Q1 2026 earnings at $3.10 EPS, Q2 2026 earnings at $3.52 EPS and Q3 2026 earnings at $2.64 EPS.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter last year, the firm posted $4.57 EPS. The company’s quarterly revenue was down 15.2% on a year-over-year basis.

Several other brokerages have also recently weighed in on NUE. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Trading Down 1.1 %

Shares of NUE stock opened at $152.22 on Wednesday. Nucor has a 12-month low of $133.42 and a 12-month high of $203.00. The firm has a 50 day moving average price of $148.37 and a two-hundred day moving average price of $155.24. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $35.74 billion, a PE ratio of 14.75 and a beta of 1.55.

Hedge Funds Weigh In On Nucor

Several hedge funds and other institutional investors have recently bought and sold shares of NUE. Envestnet Portfolio Solutions Inc. grew its position in shares of Nucor by 32.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,638 shares of the basic materials company’s stock worth $1,314,000 after buying an additional 1,614 shares during the period. Headlands Technologies LLC bought a new stake in Nucor in the first quarter valued at $53,000. Bleakley Financial Group LLC increased its stake in Nucor by 3.8% in the first quarter. Bleakley Financial Group LLC now owns 5,204 shares of the basic materials company’s stock valued at $1,030,000 after purchasing an additional 189 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Nucor by 10.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 303,716 shares of the basic materials company’s stock valued at $60,105,000 after purchasing an additional 27,817 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Nucor by 15.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 323,350 shares of the basic materials company’s stock worth $63,991,000 after purchasing an additional 43,093 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by insiders.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

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.