Nucor (NYSE:NUE) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Nucor (NYSE:NUE) released its quarterly earnings results on Monday. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09, Briefing.com reports. The business 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 company’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.57 EPS.

Nucor Stock Down 3.0 %

Shares of NYSE NUE opened at $141.66 on Thursday. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $33.96 billion, a PE ratio of 8.33 and a beta of 1.55. The firm has a fifty day moving average of $147.81 and a 200-day moving average of $159.39. Nucor has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.52%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’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 sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NUE. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Bank of America lowered their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, 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. Three 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 stock has an average rating of “Moderate Buy” and an average price target of $190.57.

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.