Nucor (NYSE:NUE) Issues Q4 Earnings Guidance

Nucor (NYSE:NUE) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.55-0.65 for the period, compared to the consensus earnings per share estimate of $0.89. Nucor also updated its Q4 2024 guidance to 0.550-0.650 EPS.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NUE shares. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets decreased 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. Finally, The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Four 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.75.

Nucor Stock Down 0.9 %

NUE stock traded down $1.09 during mid-day trading on Monday, reaching $124.16. 3,078,645 shares of the company traded hands, compared to its average volume of 1,582,569. Nucor has a fifty-two week low of $123.01 and a fifty-two week high of $203.00. 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 firm’s 50 day moving average price is $149.13 and its 200 day moving average price is $151.29. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 12.10 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the business posted $4.57 EPS. As a group, equities research analysts predict that Nucor will post 8.5 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 21.26%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 in the last quarter. Company insiders own 0.46% of the company’s stock.

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.