$0.80 EPS Expected for Nucor Co. (NYSE:NUE) This Quarter

Wall Street analysts expect Nucor Co. (NYSE:NUE) to post earnings of $0.80 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nucor’s earnings. The lowest EPS estimate is $0.79 and the highest is $0.81. Nucor posted earnings of $2.33 per share during the same quarter last year, which suggests a negative year over year growth rate of 65.7%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, October 22nd.

According to Zacks, analysts expect that Nucor will report full-year earnings of $4.45 per share for the current fiscal year, with EPS estimates ranging from $4.27 to $4.97. For the next fiscal year, analysts expect that the company will post earnings of $4.07 per share, with EPS estimates ranging from $3.15 to $4.90. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Nucor.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Thursday, July 18th. The basic materials company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the previous year, the company earned $2.07 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year.

NUE has been the topic of a number of research reports. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America lowered their price objective on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Credit Suisse Group set a $61.00 price objective on Nucor and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, KeyCorp lowered their price objective on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $59.63.

In other news, insider Ladd R. Hall sold 28,998 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the sale, the insider now directly owns 292,776 shares in the company, valued at $16,658,954.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 7,214 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $56.32, for a total value of $406,292.48. Following the completion of the sale, the insider now owns 143,826 shares in the company, valued at $8,100,280.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,203 shares of company stock worth $3,465,601. 0.96% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Delta Asset Management LLC TN grew its position in Nucor by 20.5% in the second quarter. Delta Asset Management LLC TN now owns 1,141 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 194 shares during the period. Griffin Asset Management Inc. grew its position in Nucor by 0.4% in the second quarter. Griffin Asset Management Inc. now owns 56,882 shares of the basic materials company’s stock valued at $3,134,000 after acquiring an additional 200 shares during the period. Simmons Bank grew its position in Nucor by 0.5% in the second quarter. Simmons Bank now owns 47,836 shares of the basic materials company’s stock valued at $2,636,000 after acquiring an additional 224 shares during the period. Signaturefd LLC grew its position in Nucor by 29.9% in the third quarter. Signaturefd LLC now owns 981 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 226 shares during the period. Finally, Empirical Finance LLC grew its position in Nucor by 1.0% in the second quarter. Empirical Finance LLC now owns 22,451 shares of the basic materials company’s stock valued at $1,237,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 77.36% of the company’s stock.

Shares of NUE traded down $1.29 on Wednesday, reaching $51.52. 2,006,417 shares of the stock traded hands, compared to its average volume of 2,346,906. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 0.98 and a beta of 1.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. Nucor has a 12 month low of $46.10 and a 12 month high of $64.48. The stock’s 50-day moving average price is $50.84 and its 200-day moving average price is $53.35.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, September 26th. Nucor’s dividend payout ratio is presently 21.00%.

About Nucor

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Earnings History and Estimates for Nucor (NYSE:NUE)

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