Nucor (NUE) Scheduled to Post Quarterly Earnings on Monday

Nucor (NYSE:NUE) is scheduled to be announcing 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.Individual interested in registering for the company’s earnings conference call can do so using this link.

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

Nucor Stock Performance

Nucor stock opened at $151.91 on Monday. The stock has a 50-day simple moving average of $146.67 and a 200 day simple moving average of $161.75. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor has a 12-month low of $133.42 and a 12-month high of $203.00. The stock has a market capitalization of $36.42 billion, a price-to-earnings ratio of 8.94 and a beta of 1.55.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.42%. Nucor’s dividend payout ratio is 12.71%.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their price objective on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, Morgan Stanley dropped their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Three equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

Nucor Company Profile

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.